UPDATE: Kidnappers demand N100million ransom for Olu Falae’s release

Olu Falae
Olu Falae

The abductors of former Minister of Finance, Olu Falae, are demanding the payment of N100million ransom for his release, an associate of the  politician has said.

Mr. Falae, a chieftain of the Pan-Yoruba group, Afenifere and National Chairman of the Social Democratic Party, was on Monday abducted at his Ilado farm along Igbatoro Road, Akure North Local Government Area of Ondo State.

The kidnappers, a spokesperson for Mr. Falae’s party said, want the ransom paid latest by end of  Tuesday.

The publicity secretary for the SDP, Remi Olayiwole, told PREMIUM TIMES via telephone that the gunmen stormed the farm at about 2pm on Monday, shooting sporadically into the air.

“They met him in his farm at Ilado and were shooting before taking him away,” Mr. Olayiwole said.

“His wife received a phone call from the kidnappers later, and a voice was heard telling the family to bring N100million before the end of tomorrow(Tuesday) before he will be released.”

Contacted, the Ondo State Police Spokesman, Wole Ogodo, said he needed more time to put the facts of the matter together.


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