When Odey Mathias was abducted on April 18, 2025, along with 23 others, while travelling to Calabar through the Oron/Uyo waterways, he never envisaged the near-hell experience he witnessed.

The popular comedian, who stages as General Odey, spent 50 gruesome days in the hands of his abductors due to the failure of his family to pay good ransom for his release, while other victims whose families paid good money were released earlier.

The first ransom of over N3 million could not guarantee his release until his family increased it to N8 million, down from probably over N10 million initially demanded by the kidnappers for each victim.

If the 23 victims paid at least N8 million each, it means the kidnappers made N184 million from committing a punishable crime, in a country where billions are budgeted to fight off insecurity.

But the stakes were higher in the abduction of Justice Haruna Mshelia, a Borno State High Court judge, in September 2024, where ransom was pegged at N766 million, the highest ransom confirmed in that year.

Sadly again, it is only the abductors that can confirm how much they received to free the judge, as the government will usually deny paying ransom.

Also, about this time last year, Solomon Bassey Daniel, the last of the eight prospective National Youth Service Corps (NYSC) members, kidnapped on their way to the Sokoto orientation camp, was released after a huge ransom was paid.

In March 2025, John Ubaechu, a Catholic priest, in Izombe, Oguta, Imo State, who was kidnapped, regained freedom after three days in the den of his abductors because the Church or family quickly raised N20 million or half of the ransom money demanded by the kidnappers to save the priest’s life.

Of course, many victims whose families couldn’t raise good ransom money, and promptly, have been killed and some still in captivity. A case in point is that of Sylvester Okechukwu, a Catholic priest, who was kidnapped and murdered on March 25, 2025, Joe Ajayi, a 76-year-old Army major, who died in the hands of his abductors in Kogi State, and many other sad cases.

The above cases point to the worsening kidnap crisis in Nigeria, with the government, often living in denial, insisting recently that kidnap-for-ransom has ceased.

But the sad reality is that the dark economy of kidnap-for-ransom has swelled to N2.56 billion today, with the government also negotiating and paying ransom.

As well, data on the dark economy reveals more shocking trends and losses for poor Nigerian victims and the economy at large.

According to Locust Business: The Economics of Nigeria’s Kidnap Industry – A 2025 Update, a new report by SBM Intelligence, at least 4,722 people have been abducted and N2.56 billion paid in ransom between July 2024 and June 2025 in Nigeria.

Moreover, tracking the ransom paid in the last five years, it will amount to over N5 billion, including those secretly paid by the government.

Apart from the ransom paid, the SBM Intelligence report raised alarm over the high casualty rate with a record 997 incidents across the country, in which 762 people were killed, including 563 civilians.

Also, a report published by Fides Agency this year, disclosed that 145 priests were kidnapped and 11 killed in Nigeria between 2015 and 2025, marking a constant increase in ransom-related kidnappings.

However, Bem Hembafan, a retired Navy captain, who runs a private security company in Abuja, blamed the swelling kidnap-for-ransom business on the prompt payment by the victims’ families, employers and friends.

“Kidnappers are now targeting religious leaders, especially Catholic priests because the Church easily makes payments with less negotiations,” he decried.

Also, the killing of victims whose family members were not prompt at paying ransom fees has also forced many to raise money as quickly as possible in order to save the lives of their abducted relatives.

“I have seen countless appeals in my church committees, clubs, town unions and social media by people whose relatives were abducted. All is just to save them from being killed by their heartless abductors.

“So, the fear of losing a loved one is top among the reasons people pay ransom,” Hembafan said.

The SBM Intelligence also noted that the prompt ransom payments may explain why more clergy survived, though the Church rarely acknowledges such transactions.

The above also explained why out of the 145 Catholic priests kidnapped in the last 10 years, only 11 were killed, probably due to delay in ransom payments.

But Danladi Ochefu, a Lokoja-based human rights activist and youth leader, is worried most about the continued denial of the government of the reality of kidnap-for-ransom, decrying that such open claims have emboldened kidnappers and bandits to ravage the country more, milking the citizens at a time hunger is biting harder.

“How can you kidnap 30 poor people and demand N10 million each as ransom? Where will their families get the money? Of course, the government will not rescue them, unless for political gains and will always deny paying ransom,” Ochefu said.

According to him, the fact that the government keeps living in denial of the reality of kidnap-for-ransom, while the helpless citizens and their families are still emptying life savings, selling properties and borrowing to raise ransom money, means that the dark economy of kidnap-for-ransom has come to stay.

But Fernidnad Ejume Omale, an Abuja-based assistant director at a federal parastatal, who also supported a family to raise ransom for one of its members kidnapped last November, questioned how huge transactions like N20 million cannot be tracked by the banks and how calls cannot be tracked by the telecoms.

“We used a bank for the transfer of N5 million ransom, but the same bank almost denied it and insisted that it cannot trace the account owners because it is a partially registered business account,” he said.

He decried the complacency of the banks, and argued that they are often collaborators in kidnap-for-ransom transactions, else, they should assist security agencies in tracking the account owners or block the accounts.

Apart from the banks, many concerned people are worried over why the relevant agencies are not using the technology to track those behind the dark trade, instead of tracking less-important things.

Bolanle James-Fabiyi, a forensic expert, regretted that despite modern technology, relevant agencies are still unable to track kidnappers, their hideouts, collaborators and transactions.

“I know about enhanced apps, chips and other digital enablers that can help in tracking anything from crime to movements.

“Why are we still unable to bring kidnappers and bandits to justice using these enablers?

“Our inabilities are rooted in insincerity, bad eggs in the system, poor law enforcement and hardship too,” she noted.

She also argued that telecommunication companies are underutilised, considering their huge technological advantages and tools to track kidnap-for-ransom calls across the country.

“The government can make it mandatory for all the telecommunications companies to track any call from kidnappers, transmit to appropriate security agencies and ensure follow-up.

“Most calls from kidnappers are on MTN because of the reliability of the network. So, why is MTN not giving details of the callers and their locations?

“We need to purge the entire system because it is becoming a dark economy value chain, roping in everyone,” she said.

But Jude Uhakheme, a telecoms engineer, in a town hall meeting in Port Harcourt, last February, explained that the companies are supporting relevant agencies based on what the law allows and that they will not go out of their way to divulge unauthorised or classified information to avoid sanctions from the regulators.

“We always give the information required to the relevant authorities, but are not the ones to use them.

“The failure to track kidnappers is not our duty, but the duty of all, because some know the hideouts of kidnappers, some are family members of kidnappers, yet they will keep quiet over their devilish acts,” he cleared the air.

The security agencies are also not spared as many have lost their lives in the fight against insecurity and some rescue operations for kidnapped Nigerians, especially in the North-West zone.

Offering solutions, the SBM Intelligence urged the government to tackle both insecurity and the underlying economic distress, else kidnapping will remain a self-sustaining national industry.

“Breaking this cycle demands urgent, systemic action. Disrupting financial networks through advanced tracing technologies could starve kidnappers of profits, while economic stabilisation might reduce recruitment pools.

“But without coordinated strategies targeting both the crime’s profitability and its socioeconomic drivers, Nigeria risks entrenching kidnapping as a grim national industry—one that perpetuates poverty, undermines recovery, and leaves citizens hostage to a failing system. The time for half-measures has passed; only through dismantling the ransom economy can Nigeria begin reclaiming its security and future,” SBM Intelligence concluded.

The above for many is a practical way to tackle the menace rather than the three-day fasting and prayer session suggested by Sunday Karimi, senator, representing Kogi West Senatorial District.

Uhakheme thinks that the government should exercise a little sincerity in the fight by at least asking relevant agencies what they do with information given to them by telecommunications companies in tracking kidnappers.

“If you point at telecoms, what about security agencies that act late, banks that allow ransom payments on their platforms and our society that celebrates wealth, not minding the source. We all have to join hands in the fight if we want results because soon, ransom will be paid in dollars,” he warned. (BusinessDay, excluding headline)