Crime
Nigerians paid N2.56bn as kidnap ransom in one year
Relatives of kidnap victims paid a total of N2.55b to get back their loved ones in 24 months across Nigeria.
This is as the country’s kidnapping crisis is fast becoming a norm while security agencies have intensified efforts in the fight against the crime.
Between July 2024 and June 2025, 4,722 civilians were abducted by bandits or kidnappers.
According to a new analytical report by SBM Intelligence, what was once a symptom of insecurity has transformed into a structured economy.
According to the report, the horror is fueled by widespread poverty, rising unemployment and the persistent devaluation of the naira.
The report titled; “Locust Business: The Economics of Nigeria’s Kidnap Industry” by Africa-focused geopolitical research and strategic communications consulting firm, SBM Intelligence, which tracked incidents between mid-2024 and mid-2025, reveals that at least 4,722 civilians were abducted nationwide, underscoring the growing scale and sophistication of kidnapping networks.
“Kidnapping for ransom has emerged as a pervasive and destabilizing criminal enterprise in Nigeria, one that capitalizes ruthlessly on the country’s economic fragility. While precise ransom figures remain obscured by victims’ fears of reprisals and institutional opacity, the escalating financial burden on communities is undeniable”, the report said.
Analyzing the report, the Northwest remains the epicentre of abductions, with Katsina State recording the highest number of kidnap-related incidents (131), followed closely by Kaduna (123), Zamfara (113), and Niger (40). However, Zamfara topped the list for the actual number of victims, with 1,203 people kidnapped, accounting for over 25 per cent of all recorded abductions.
While the North remains most severely impacted, the report highlights that kidnapping is becoming increasingly decentralized, with the Southeast and South-South regions experiencing targeted religious abductions and financially motivated crimes.
Critically, SBM’s findings also show a stark divergence between ransom payments in naira and their dollar equivalents, a reflection of Nigeria’s ongoing currency crisis. While ransom demands have surged in naira terms, the dollar value has stagnated or declined due to sharp devaluation.
“In the 2022 reporting period, N653 million in ransom payments amounted to approximately $1.13 million.
By 2023, even though N1 billion was paid, the dollar equivalent dropped below $1 million. In the latest cycle, despite a record N2.56 billion being paid, the sum translates to just $1.66 million.
“This divergence shows that criminals are demanding higher naira ransoms to make up for lost value. The collapse of the currency has turned kidnapping into a hedge against inflation”, the report revealed.
Reacting to development, policy and economic analysts say that the federal government’s response, largely reactive and focused on arrests, has failed to tackle the root causes of the crisis: widespread poverty, rising under-employment, and under-resourced law enforcement agencies.
Crime
FG withdraws forgery charge against Ozekhome
The Federal government has withdrawn the criminal charge it filed against Professor Mike Ozekhome, SAN, over alleged forgery.
The withdrawal was announced on Tuesday by the office of the Attorney General of the Federation at the High Court of the Federal Capital Territory sitting in Maitama.
The Director of Public Prosecution of the Federation, Rotimi Oyed), informed Justice Peter Kekemeke that the Attorney General of the Federation had decided to take a holistic look at the case and determine the most appropriate course of action.
Following the application, which was not opposed by the defence team led by Paul Erokoro (SAN), the court struck out the three-count charge against Ozekhome.
Ozekhome had been arraigned on allegations bordering on forgery and other related offences in a case initially instituted by the Independent Corrupt Practices and Other Related Offences Commission.
The ICPC filed a three-count criminal charge against Ozekhome at the FCT High Court in Abuja, accusing him of alleged fraud, forgery and use of false documents in connection with a disputed property in London.
Prosecutors alleged that the senior lawyer knowingly received a property located at 79 Randall Avenue, London NW2 7SX, which he claimed was gifted to him, and then allegedly used a forged Nigerian passport in support of that claim.
They argued that both acts contravened provisions of the Corrupt Practices and Other Related Offences Act and the FCT Penal Code.
However, there have been several arguments around the allegations as many opined that it was politically motivated while those close to Ozekhome said there was no way the legal luminary could forge documents for the sake of inheriting any property.
Crime
Man stabs ex-wife to death, hands in to Police
A Maryland woman was stabbed to death inside her home over the weekend, and her estranged husband turned himself just a couple of hours later.
Shortly after 8am on Sunday, the Howard County Police Department responded to a report that 53-year-old Alexander Stephenson had stabbed his wife, Amethyst Stephenson, 47, and fled.
Officers quickly made their way to Amethyst’s home, a gorgeous $900,000 house nestled in the woods near Ellicott City, just outside of Baltimore.
When the officers arrived, she was already dead. The Howard County Police Department told the Daily Mail that she was stabbed multiple times but did not provide more details.
Police said that Amethyst was estranged from her husband and that he did not live in the home where she was murdered.
Alexander was immediately considered wanted for the fatal stabbing.
The Howard County Police Department said he turned himself in at 10.30am on the day of the murder at the department’s northern district station in Ellicott City.
Crime
Prosecution of Gov Ododo’s CoS: Witness narrates how alleged stolen funds were used to acquire Abuja properties
A prosecution witness, PW17, an operative of the Economic and Financial Crimes Commission, EFCC and Deputy Superintendent of the EFCC, DCE Ahmed Audu Abubakar, on Monday, February 9, 2026, narrated before Justice James Omotosho of the Federal High Court, Maitama, Abuja, how hundreds of millions of naira allegedly diverted from the Kogi State Government House Administration Account were used to acquire high-end properties in choice areas of the Federal Capital Territory.
The EFCC is prosecuting Ali Bello, the Chief of Staff to the Kogi State Governor, Ahmed Usman Ododo, and a nephew of former Kogi State Governor, Yahaya Adoza Bello, on a 16-count amended charge, alongside Dauda Sulaiman and one Abdulsalami Hudu, the former cashier of the Kogi State Government House Administration Account (now at large).
The defendants are standing trial over allegations of misappropriation and money laundering to the tune of ₦10,270,556,800, funds allegedly withdrawn from the Kogi State treasury and delivered to a Bureau de Change operator, Rabiu Tafada, in Abuja, to keep or convert to foreign currencies for personal use.
At the resumed hearing on Monday, Abubakar told the court that the first defendant, Ali Bello, used ₦900 million to acquire a property located at No. 35 Danube Street, Maitama, Abuja, Spring Hall School.
“My Lord, the property belongs to an Honourable from Bauchi State and was put up for sale for that amount. The first defendant procured the services of a lawyer, Barrister Ramalan, to broker the transaction. Barrister Ramalan carried out the instruction as directed by the first defendant, and the property was eventually purchased.
The payment was made in cash at the office of the Bureau de Change in Zone 4, Abuja, after the naira equivalent was converted to dollars. That was the finding of our investigation regarding the transaction,” he said.
The witness further stated that the funds used for the purchase were withdrawn at different times from the Kogi State Government House Administration Account.
When shown Exhibit H by prosecution counsel, Rotimi Oyedepo, SAN, the witness confirmed that it was a Deed of Assignment between Pauchi Ventures Nigeria Limited and Y3 Nigeria Limited.
Asked to identify Y3 Nigeria Limited, the witness explained:
“My Lord, Y3 is the company provided by the first defendant to his lawyer for the preparation of the Deed of Assignment.”
Moving to count four of the charge, Oyedepo, SAN, stated that the defendant allegedly used ₦920 million to acquire a property located at No. 2 Justice Chukwudi (or Oguta) Street, Asokoro, Abuja, funds he reasonably ought to have known were proceeds of unlawful activity.
Responding, the witness confirmed that the EFCC identified the property during investigations.
“My lord, the transaction was brokered by the former Governor of Kogi State, His Excellency Yahaya Bello, himself. He approached a contractor friend who had recently acquired the property through Wastle Motors, owned by Alhaji Sa’id Dantsoho”
“They agreed on a price, and the owner accessed a facility from Access Bank. It was agreed that the property would be sold at the same amount it was acquired. Payment was to be made ‘in kind’ because His Excellency had just assumed office and promised to patronize the contractor during his administration.”
An account was provided into which loan repayments would be made. During the period, there were numerous cash deposits from Lokoja and transfers from the Bureau de Change operated by Rabiu Tafada, including through his company, Busynet. All BDC transfers were carried out on the instruction of the first defendant, Ali Bello. That is how the property was paid for, My Lord”, he said.
The witness stated that the total facility collected as of March 21, 2018, stood at ₦808,698,263.29.
Abubakar further told the court that on April 8, 2020, multiple cash deposits were made at the Lokoja Branch of Access Bank towards servicing the loan. He listed the deposits as follows:
• Victor Ashimo – ₦3,650,000
• Surajo Samson – ₦7,700,000
• Sikiru Lariyat – ₦6,650,000
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