Kidnappers demand N100million ransom for Olu Falae’s release

The abductors of former Minister of Finance, Olu Falae, are demanding the payment of N100million ransom for his release and want it paid latest by end of Tuesday.

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.

''They met him in his farm at Ilado and were shooting before taking him away,'' a publicity secretary for the SDP, Remi Olayiwole told Premium Times about Falae's abduction that he was abducted in his farm at about 2pm on Monday. ''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.