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Nigerians Paid N1bn Ransom To Kidnappers In One Year — SBM Intelligence Report

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SB Morgen (SBM) Intelligence, a geopolitical research firm, says kidnappers demanded over N10.9 billion from victims and their families between June 2023 and July 2024.

The research firm, in its latest report, titled, ‘Economics of Nigeria’s Kidnap Industry’, said out of the total amount of N10.9 billion demanded as ransom, only N1 billion was received.

The firm said about 7,568 people were abducted in 1,130 incidents across the country in that same period.

“Nigeria’s security crisis has become increasingly complex, with armed groups and non-state actors exploiting the state’s weakened influence,” the report reads.

“This includes Boko Haram’s resurgence in the Northeast, armed gangs in the Northcentral and Northwest, secessionist violence in the Southeast, and gang-related issues in the Southwest.

“Amid these diverse security threats, widespread kidnap for ransom has emerged as a common thread.

“Between July 2023 and June 2024, our research found that no fewer than 7,568 people were abducted in 1,130 incidents across the country.

“In that same period, kidnappers demanded at least the sum of N10,995,090,000 (approximately $6,871,931) as ransom but received N1,048,110,000, a mere 9.5% of the money demanded, indicating that kidnappers have become less targeted in their victimology.”

Giving state analysis, the research firm said of the 1,130 reported kidnapping cases, Zamfara, Kaduna, and Katsina had the highest numbers of incidents and victims.

“Zamfara recorded 132 incidents with 1,639 victims, Kaduna had 113 incidents with 1,113 victims, and Katsina reported 119 incidents with 887 victims,” SBM Intelligence added.

“These three states also have the highest number of civilian deaths.

“In the year under review in this report, kidnapping has become more lethal, with 1,056 people killed in 1,130 reported kidnap incidents.

“On average, someone is killed each time there is an attempted kidnap.”

In terms of demands, the SBM said the federal capital territory (FCT) has the highest ransom demands, followed closely by Lagos and Kaduna.

“When comparing geopolitical zones, the southeast has the highest ransom paid and collection rate overall.

“This year, as in previous years, kidnappers have continued to demand in-kind payments from victims’ families, ranging from food, drinks and cigarettes in the South to motorcycles in the North.”

The firm said one thing that may cause problems in future is that “kidnappers are increasingly breaking trust”.

“More than four ransom bearers have been killed, and three others abducted this year, and if this trend persists, it may get more challenging to find people eager or willing to deliver ransoms on behalf of victims,” the report added.

SBM said this year, kidnapping incidents are the prevalence of mass abductions, kidnap events in which at least five people are abducted, particularly in the north.

The firm said from January to June, there have been 135 mass abduction incidents involving at least five victims per incident, with 3,277 people kidnapped and 125 killed.

 

Credit: The Cable

BIG STORY

Stella Visited Vatican City To Secure My Release From Prison — Former President Obasanjo

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Former President Olusegun Obasanjo has shared the significant role his late wife, Stella Obasanjo, played in securing his release from prison.

In 1995, Obasanjo was arrested and convicted by the military regime of the late Sani Abacha for his alleged involvement in a planned coup.

After four years of detention, Obasanjo was released in 1998 by Abdulsalami Abubakar, following Abacha’s death.

During his imprisonment, Stella was a strong advocate, relentlessly demanding her husband’s release.

She tragically passed away on October 23, 2005, during a liposuction surgery.

Speaking on Friday at the inauguration of the 250-bed Stella Obasanjo Hospital in Benin, the Edo state capital, the former president recounted how his late wife traveled to the Vatican City and other parts of the world to secure his freedom.

“My late wife went everywhere to ensure that I came out of prison alive. She was in Vatican City, France, and other parts of the world,” Obasanjo said.

“We were planning for her 68th birthday anniversary but never had it before she died. It was very painful for me in particular and for all of us in my family.

“So you can appreciate how thankful I am to you for doing this in her honour.”

He expressed gratitude to the Edo state government for recognizing his late wife, “who made tremendous contributions to my achievements in public life.”

Obasanjo also praised Governor Godwin Obaseki for “starting and finishing well.”

“I have worked in the past with the likes of John Oyegun; he was a fantastic permanent secretary. I reminded him recently of some of the things that he practised on me and the ones I practised on him,” Obasanjo added.

“With this hospital, you’re assured of first-class treatment for any ailment. More grace to the elbows of the governor. With this kind of edifice, I can say that the governor started well and is finishing well.”

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BIG STORY

Court Remands Woman For Allegedly Stabbing Husband To Death In Ibadan

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An Iyaganku Chief Magistrates’ Court yesterday ordered the remand of a housewife, Olajumoke Olalere, 33, at Agodi Correctional facility, Ibadan, for allegedly stabbing her husband to death.

The Chief Magistrate, Mrs Olabisi Ogunkanmi, who did not take the defendant’s plea for lack of jurisdiction, ordered her remand pending the legal advice from the Directorate of Public Prosecution (DPP).

She, thereafter, adjourned the case until March 5, 2025 for mention.

According to The News Agency of Nigeria (NAN), the police charged Olalere with a count of murder.

The prosecutor, Cpl. Akeem Akinloye, had told the court that the defendant on October 30, at 9.00 p.m. allegedly caused the death of her 39-year-old husband, Oluwasegun Tinubu.

Akinloye said the defendant allegedly stabbed her husband with a knife during a disagreement at their house, at Zone 5, Gbelu, Iyana – Agbala, Ibadan.

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BIG STORY

UPDATE: EFCC Grants Former Delta Governor Okowa Bail Over Alleged N1.3trn Fraud

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The Port Harcourt zonal command of the Economic and Financial Crimes Commission (EFCC) has granted administrative bail to Dr. Ifeanyi Okowa, a former governor of Delta State, over allegations of diverting N1.3 trillion in 13% derivation funds from the federation account between 2015 and 2023.

Okowa was arrested on Monday, November 4, 2024, in Port Harcourt, Rivers State, after reporting to the Port Harcourt Directorate of the EFCC at the invitation of investigators handling his case.

Sources confirmed that the former governor left the EFCC facility around 9 pm on Wednesday night.

A source under anonymity stated: “He left the facility at about 9 pm yesterday (Wednesday).”

“Okowa is expected to return soon to provide documents and answer more questions before the matter will be charged to court.”

The former governor is accused of failing to account for the 13% derivation funds, as well as an additional N40 billion, which he allegedly claimed to have used to acquire shares in UTM Floating Liquefied Natural Gas (LNG).

Specifically, Okowa is said to have purchased N40 billion worth of shares in one of the country’s major banks, representing an 8% equity stake in the offshore LNG venture.

The funds are also alleged to have been diverted for other purposes, including acquiring properties in Abuja and Asaba, Delta State.

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