A palace source disclosed that the kidnappers called the family members in the early hours of Saturday, demanding N100 million to secure the release of the traditional ruler.
He said the kidnappers called around 6 am to open negotiations and insisted on a N100m ransom before the release of Oba Olukotun.
It was learned that when the gunmen stormed the residence of the victim, they shot sporadically into the air.
They also shot at the monarch’s main door to gain access into his residential building before whisking him away.
The source said, “The kidnappers have contacted the family and demanded N100 Million.”
It was gathered that the residents of the community had sought spiritual assistance as they organised an inter-denominational service for the safe return of the monarch.
A community leader, Mr Soji Ogedengbe, disclosed that interdenominational prayers, fasting, and vigils were ongoing for the purpose of getting the kidnapped monarch released.
The Public Relations Officer of the Ondo State Police Command, Funmilayo Odunlami, said the men of the command were still in the forest to rescue the monarch.
“Efforts are still ongoing to rescue the victim”, the police spokesperson said.