Suspected Gunmen kidnap have abducted an Ikorodu-born business mogul, Alhaji Lookman Onabanjo, popularly known as “Bug”

It was gathered that the victim was kidnapped by an 8-man gang armed with an AK-47 rifle

and one submachine gun at Agbowa area of Ikosi-Ejirin Local Council Development Area of Lagos State on Monday, March 8.

He was said to have been kidnapped alongside his driver and three others, while on their way to his farm in Ota, Ogun State. 

The businessman owns companies among which is Bugon Oil and Gas, Bugon Autoland and Bugon Farms.

It was further gathered that three of the victims were released after some hours.

According to one of the freed victims, the gunmen made them trek for two

hours until they got to a thick bush, where they were held.

A family source, who confirmed the incident to Vanguard on Wednesday,

said the kidnappers have demanded N100 million as a ransom for their release.

The source said family and sympathisers were negotiating for N10 million while the kidnappers insisted on N100 million.

A source in the victim’s Ota-Ona, Ikorodu neighbourhood said the other victims,

who were kidnapped alongside the businessman, allegedly paid N15 million and an extra N5,000 as a ransom for their release?

“The N5,000 was added when they threatened that if the N15 million was incomplete both victims would be killed.

The ransom was collected at the Emuren Pipeline area before the victims were released.

The Gunmen kidnap came out of a bush near Adama.” the source told Vanguard. 



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