Olushola Ayanshola, a cattle dealer, has been abducted along Otu-Alaga Road, in the Itesiwaju local government area of Oyo state.
The sum of N30 million was demanded for his release.
Ayanshola was returning from his farm around Alaga Road, close to Radio Station, Otu town, on Sunday evening when two gun-wielding kidnappers shot sporadically into the air to scare motorists and passersby.
The farmer was taken away into the bush and efforts by his family members and security agents to locate his whereabouts were unsuccessful.
Olawale, the son of the kidnapped man said the kidnappers contacted the family on Monday to demand N30m ransom.
He added that his father pleaded with him and his elder brother, Emmanuel, to find a way to raise the money because the abductors.
Olawale said his father urged them to sell his property to raise the money but he told him there was nothing to sell to raise N30m as all his property was not worth N2m.
He added that when he he tried speaking with one of the kidnappers, he did not understand Yoruba and English but Hausa.
Olawale claimed he reported the matter at the Otu Police Station and that the Amotekun Corps heard of the kidnap and its men have been combing the bush but could not find them.
However, the kidnappers informed Olawale that they are aware that hunters and the Amotekun operatives were on their trail and threatened to kill his father if he did not tell them to back down.
Olawale's father confirmed it and told him that the kidnappers have informants who usually update them as to when to go deeper inside the bush.
The state Police Public Relations Officer, Adewale Osifeso, is aware of the incident and he said an investigation is ongoing.
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