A group of bandits responsible for the kidnapping of 16 residents of the Gonin Gora area of the Kaduna metropolis have demanded a ransom of N40 trillion ($24.61bn) for their release.
Fintech Telex recalls that the bandits on Wednesday, February 28, 2024, invaded the Gonin-Gora community, a suburb of Kaduna metropolis in the Chikun Local Government Area, kidnapping 16 people from there.
Providing an update on the kidnapped residents, leaders of the community disclosed that the bandits have demanded a ransom of N40 trillion.
A community leader of the area, John Yusuf said “the bandits have contacted us. They are demanding N40 trillion, 11 Hilux vans, and 150 motorcycles for the release of 16 people they are holding captive.
“Where are we going to get this kind of money? Even if we sell the entire community, we cannot raise N40 trillion. Even Nigeria as a country has never made a budget of N40 trillion.”
Speaking on the incident, the community leader stated that the bandits invaded the community two times within a week. “The abductions happened twice within four days interval,” he said.
He said, “During the first attack, three people were kidnapped, while in the second attack, 13 people were abducted bringing the total number of people being held captive to 16.”
He lamented the vast bushes bordering the community and the Birnin Gwari Local Government Area of the state and called for the establishment of a military base in the area to check the activities of the criminals.
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“We are pleading with the government to come to our aid by establishing a military base behind our community where the bandits take advantage of the bushes to invade our community.
“From our community down to Birnin Gwari, which is over 150 kilometres, is a stretch of the bush.
“We also have another stretch of bushes from Gonin Gora down to Niger State.
“So, when the criminals have free access through the bushes to our community. We are pleading with the government to help us,” the community leader pleaded.
How bandits are terrorizing Nigeria
For years, bandit kidnappings have cast a long shadow over vast swathes of Nigeria. These violent acts, perpetrated by heavily armed groups, have become a grim reality for many Nigerians, leaving a trail of fear, trauma, and economic devastation.
The motivations behind these kidnappings are complex. In some cases, ransom payments fuel the kidnappings, with wealthy individuals, politicians, and even schoolchildren targeted. In others, kidnappings are used as a tool to extort entire communities, disrupting livelihoods and creating a climate of terror.
The economic consequences are catastrophic. Families are forced to scrape together exorbitant sums to secure the release of loved ones, often selling off assets, taking out crippling loans, or plunging deeper into poverty. These ransom payments, estimated to be in the hundreds of millions of dollars annually, enrich criminal groups, empowering them to further their activities.
The fear of kidnapping creates a chilling effect on economic activity. Businesses hesitate to invest in areas with high kidnapping rates, leading to a decline in foreign direct investments and stagnated growth. The psychological impact of kidnappings can be severe. Fear and uncertainty paralyze individuals and communities, hindering their ability to work effectively. This reduction in productivity further hampers economic growth.
To mitigate kidnapping risks, individuals and businesses are forced to invest heavily in private security measures. These expenses siphon resources away from productive investments and limit disposable income. Skilled professionals, fearing for their safety, may choose to leave high-risk areas or even migrate entirely from Nigeria. This exodus of talent deprives the country of its human capital, further hindering economic development.
The agricultural sector, a critical pillar of the Nigerian economy, is particularly vulnerable. Fear of kidnappings keeps farmers from tending their fields, leading to food shortages and rising prices. In some cases, bandits directly target farmers, stealing livestock and disrupting agricultural production cycles.
The economic consequences of these kidnappings have a ripple effect, impacting inflation, unemployment, and overall economic stability. Furthermore, they exacerbate inequalities as wealthier individuals are often better equipped to cope with ransom demands. This can lead to social unrest and hinder efforts to build a more inclusive economy.
The Nigerian government faces a monumental task in tackling this multifaceted problem. Strengthening law enforcement capabilities, improving intelligence gathering, and addressing the root causes of poverty and social unrest are crucial steps. However, a multi-pronged approach is needed to truly dismantle the infrastructure of these criminal gangs and restore safety and economic prosperity to affected regions.
