Abductors Of Chief Olu Falae have contacted his wife, Rachael, demanding for N100 million ransom before his released.

A family member who spoke with DAILY POST said the kidnappers demanded that the money must be paid in the next 24 hours.

The farmland is about 15 kilometers to his residence along Oba-Ile road, Akure, the state capital.

Sources said Falae, who, coincidentally clocked 77 yesterday, has been having a running battle with the Fulani herdsmen, who have been grazing in his farmland.

It was learnt that the Olu-Abo of Ilu-Abo community had earlier received a phone call from one of his workers that he should come to the farm following the alleged invasion of his farmland by the herdsmen.

It was gathered that the former minister of finance under Gen. Ibrahim Babaginda’s regime, was allegedly attacked at his farm by the kidnappers before he was whisked away to an unknown destination.

He added that some of his staff in the farm numbering over 200 were also attacked.

When our reporter visited Falae’s residence, Journalists, and some sympathizers were barred from entering the house.

Meanwhile, the Ondo State government has described the incident as unfortunate, saying the security of the country had deteriorated to the level of abducting a personality of Chief Falae.

According to the commissioner for Information, Mr. Kayode Akinmade, an urgent security meeting had been summoned.

He assured the family members that the government would do everything possible to ensure Chief Falae was rescued alive.

Also, the Asamo of Akure, High Chief Rotimi Olusanya said, “We are surprised. I don’t really know what the old man has done.

“He does not have money. He is an old man. By the time we heard the news, we were shocked. The Deji of Akure, Oba Aladesulu Aladetoyinbo has made efforts to contact the state government. We appeal to the security agencies to do something about it urgently.

“I am hearing that chief Falae hadd issues with the Fulani herdsmen for the first time. Anyway, we’ve not received full details of the kidnapping. But if that is the case, it is just unfortunate.

“But I would like to appeal to the government to do something about it. But for sometime now, the people of Akure have not had any problem with the Fulani herdsmen. I think we must have something to do about it.”