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UPDATED: Olu Falae Kidnapped, Abductors Demand of N100million

Crime & Corruption

UPDATED: Olu Falae Kidnapped, Abductors Demand of N100million


Former Finance Minister and presidential aspirant, Chief Olu Falae has been reported kidnapped. Channel TV just reported the kidnap of the man who after retirement has lived quietly in Akure.

According to a source, the about 20 men invaded the farm around noon announcing their arrival with gunshot before whisking away the former finance minister from the farm. It was gathered that some workers at the farm who tried to prevent him from being kidnapped were injured by the kidnappers.

The spokesperson of the Social Democratic Party (SDP) in the state, Remi Olayiwola, who confirmed the development, said the abductors had demanded for N100 million ransom. He said: “The kidnappers have called the wife of the man and have asked the family to produce N100 million between Monday and Tuesday.” Olayiwola, however, said The abductors did not allow Chief Falae to speak with his wife but they only assured the wife that he was in safe hands.

Confirming the development, the state Police Public Relations Officer (PPRO), Wole Ogodo, said his men had been sent out to rescue the former presidential candidate. Ogodo said about 50 policemen had been drafted to the Ilado village, adding that the operation was headed by the Deputy Commissioner of Police in charge of operation. The PPRO explained that Chief Falae had earlier in the year reported that Fulani herdsmen in the area were destroying his produce during grazing. He said the herdsmen in the area signed an undertaking not to graze in the farm.

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