Mrs. Olaoye was kidnapped last Thursday by suspected gunmen on the notorious Ore/Lagos Express Road.
The abductors of Mrs. Monisola Margaret Olaoye, a top director of the Ondo State Board of Internal Revenue, have reduced their ransom to the sum of N11 million, SaharaReporters learned on Thursday.
The kidnappers had earlier demanded N50 million in exchange for Mrs. Olaoye’s release.
Mrs. Olaoye was kidnapped last Thursday by suspected gunmen on the notorious Ore/Lagos Express Road.
The director was seized at gunpoint with her driver, identified as Sola Dakoru, while on her way to Lagos for a private function.
A source who spoke to Sahara Reporters on Thursday said the abductors reduced the ransom after a series of negotiations with the families of the victims.
“The kidnappers called again to notify the family members of Mrs. Olaoye that the ransom has been reduced to eleven million naira. They were initially demanding the sum of N50 million but they have called now to make a reduction on the ransom,” the source said.
"They are demanding that Mrs. Olaoye should pay the sum of N10 million while the driver (Sola) should pay the ransom of N1 million before they would be free," he said.
Femi Joseph, spokesman of the Ondo State Police Command, had earlier confirmed the abduction of the victims on the Ore expressway.
Mr. Joseph said the security agencies in the state are working towards ensuring the release of the victims from the kidnapper's den.
“The police have always advised family members or relatives of victims not to negotiate with the kidnappers because these are hoodlums who are committing a crime against the state.
“But I can assure you that the police are close to tracking down the kidnappers and we shall arrest them soon and also save the victims from captivity.
"I am also using this medium to beg the families and colleagues of the victims not to engage in activities that can hinder the investigation of the police over this case," he said.
