The unknown gunmen had abducted Omotayo on Saturday while coming back from a meeting in Ijebu-Ode in his vehicle marked W 3J9.
He was reportedly accosted at the Oke-Eri area of Imope, pulled out, and taken to an unknown destination, leaving his vehicle on the Ijebu–Ode–Oru– Ibadan road.
However, a source in Imope town who pleaded anonymity on Monday said that the kidnappers have reached out to the family and demanded a sum of N200 million.
The source said after so many pleas by the family, the abductors reduced the ransom to N100 million.
The source said, “The abductors have reached out to the family and demanded N200 million. But, as of today, they are insisting on N100 million as ransom.”