Nigeria lost N2.2trn to kidnap ransoms in one year — Report
Nigeria lost about N2.2 trillion to kidnapping ransoms between May 2023 and April 2024 — a figure that exceeds the country’s entire 2024 defence budget — according to the 8th Nigeria SDG 16 Shadow Report launched by the Civil Society Legislative Advocacy Centre (CISLAC) and Transparency International (TI) Nigeria.
The report, themed “Leaving No One Behind: Anti-Corruption, Right to Information, and Justice for All,” was unveiled at a side event of the United Nations General Assembly in New York on Tuesday.
Speaking at the launch, CISLAC’s Executive Director and Head of Transparency International Nigeria, Comrade Auwal Ibrahim Musa (Rafsanjani), warned that Nigeria is “trapped in a dangerous cycle of corruption, weak institutions, and worsening insecurity” that threatens its chances of meeting the 2030 Sustainable Development Goals.
“One of the most alarming findings in this year’s report is the scale of insecurity,” Rafsanjani said. “Kidnapping for ransom has become commercialised. Between May 2023 and April 2024, over 2.23 million incidents of kidnapping were recorded in Nigeria.
“Ransom payments totalled N2.2 trillion, or about US $1.4 billion. This figure exceeds Nigeria’s entire defence budget for 2024 and reflects the privatisation of insecurity at the expense of national stability.”
According to him, political impunity lies at the heart of Nigeria’s governance failures. He stressed that many political leaders routinely ignore constitutional requirements to declare their assets before the Code of Conduct Bureau.
“This disregard for accountability erodes public trust and undermines the ability of anti-corruption agencies to function effectively,” he said.
Rafsanjani further noted that instead of leading by example, “political office holders continue to divert taxpayers’ money to acquire luxury properties both within Nigeria and abroad, fueling illicit financial flows.”
He described the practice as “a dangerous precedent in which laws are applied selectively — shielding the powerful while ordinary citizens suffer the consequences of weak governance.”
The report also highlighted the opacity surrounding asset recovery, warning that “recoveries are carried out without transparent reporting or accountability,” a trend that creates what Rafsanjani called “fertile ground for recycled corruption.”
Beyond corruption, the Shadow Report raised concerns about the weakening of institutions that should safeguard democracy.
It pointed to allegations against senior judicial figures, irregularities in the electoral commission, and inadequate vetting of political appointees.
“The judiciary, security services, and electoral bodies — pillars of democracy — are increasingly viewed as compromised,” Rafsanjani said.
The report provided several real-world cases to illustrate these failings. One was the arrest of Katsina whistleblower Mubarak Bello after he exposed payroll fraud in the state police command.
“Instead of protection, he was arrested under dubious charges. His case demonstrates the risks faced by citizens who dare to challenge corruption in Nigeria,” Rafsanjani told the gathering.
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He also cited the UK First-tier Tribunal case involving Chief Mike Ozekhome and his son, Osilama Mike Ozekhome, over a property transfer linked to General Jeremiah Useni.
The Tribunal rejected their application to register the property, ruling that the supposed payment was “nothing more than an invention and contrivance.”
According to Rafsanjani, the case “illustrates how legal actors themselves can be complicit in shielding illicit assets.”
Another troubling example, he said, concerns properties allegedly linked to Nigeria’s Minister of the Federal Capital Territory, Nyesom Wike, in Florida.
Reports indicate he allegedly purchased three luxury lakeside homes worth millions of dollars in Winter Springs, Seminole County.
“This mirrors a disturbing pattern in which political elites loot national resources at home and funnel them into real estate abroad,” Rafsanjani said, calling for urgent investigation.
On fiscal transparency, the report noted that Nigeria scored only 31 out of 100 in the 2024 Open Budget Survey, while compliance with the Freedom of Information Act remains just 11.4 percent despite a Supreme Court ruling affirming its applicability.
The report also observed that the Open Treasury Portal — once a flagship for accountability — is now inactive.
Other troubling realities identified include pervasive procurement corruption, unchecked vote-buying, widespread campaign finance violations, and the shrinking of civic space through protest repression and surveillance.
Rafsanjani said the 8th Shadow Report is not just a critique but a guide. “It is both a mirror and a roadmap. It shows us where we stand, but also points us to what must change,” he said.
He concluded with a call for renewed commitment to good governance, “As we approach 2030, Nigeria risks falling short, not because of a lack of laws or institutions, but because of the absence of political will to implement them.
“The path to national renewal lies in strong institutions, a protected civic space, and genuine respect for the rule of law. Only then can we truly ensure that no one is left behind.”
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