Kidnap-for-ransom crisis: Over 735 mass abductions recorded since 2019 — NFIU raises alarm

By Seun IbiyemiNigeria has recorded more than 735 mass abductions since 2019, a stark reflection of the country’s escalating Kidnapping for Ransom (KFR) epidemic, according to a report released on Tuesday by the Nigeria Financial Intelligence Unit (NFIU).The report, titled “Typologies of Money Laundering Through Kidnapping for Ransom in Nigeria,” offers a grim assessment of how KFR is not only threatening public safety but also undermining the nation’s financial security, governance, and economic stability.Describing KFR as a critical driver of organised crime, the report noted that the surge in abductions is closely tied to broader criminal networks engaged in money laundering, terrorism financing, human trafficking, and drug smuggling.

“This crime is deeply interwoven with other high-level criminal enterprises,” the report stated. It also stressed that Nigeria’s heavily cash-based economy and reliance on informal financial systems have made it extraordinarily difficult to trace ransom payments, often running into millions of naira.The NFIU warns that the increasing frequency, complexity, and transnational nature of kidnapping operations signal a shift into more dangerous territory.



As a result, tackling KFR requires a cohesive, multi-pronged national strategy.Key recommendations include: Strengthening financial oversight through tighter regulation and improved enforcement of Know-Your-Customer (KYC) protocols. Expanding the use of Artificial Intelligence (AI) to detect suspicious financial transactions potentially linked to ransom payments.

Enhancing the efficiency of Suspicious Transaction Reporting (STR) mechanisms; Enforcing SIM card registration laws more rigorously to reduce anonymity in criminal communication networks; Boosting inter-agency collaboration between financial intelligence units, security forces, and regulatory authorities.In addition to institutional reforms, the NFIU called on civil society organisations to launch widespread public awareness campaigns that discourage ransom payments and encourage greater community vigilance.The report also underscored the necessity of international cooperation in intelligence sharing, particularly for tracking cross-border financial transactions and dismantling global criminal supply chains linked to KFR.

“If adopted and enforced with consistency, these measures could drastically curtail the grip of kidnapping syndicates, reinforce Nigeria’s financial defences, and provide greater protection for communities most at risk,” the report concluded.The release comes amid growing public anxiety over the frequency of mass abductions in schools, highways, and rural settlements, many of which end in ransom negotiations that are rarely traced or publicly accounted for.The post Kidnap-for-ransom crisis: Over 735 mass abductions recorded since 2019 — NFIU raises alarm appeared first on Nigerian NewsDirect.

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