Unknown gunmen, who killed Oba Olusegun Aremu-Cole, Olukoro of Koro-Ekiti in the Ekiti Local Government Area of Kwara State have reportedly reached out to the family of the late monarch demanding a ransom of N40m for the release of the abducted monarch's wife and one other member of the family.

The monarch was shot dead at his palace on Thursday while his wife and two members of the family were abducted in the community, though one of the captives was reported to have been released owing to old age.

The gunmen had earlier placed N100m ransom on the three victims but have now reduced it to N40m, according to reports reaching DAILY POST.

Chairman of the Transition Implementation Committee (TIC) in Ekiti Local Government Council of Kwara State, Chief Kehinde Bayode, in a chat with reporters, also said that a suspect was apprehended in Eruku town on Sunday.

Efforts to reach the Police Public Relations Officer (PPRO) in the State Police Command, Ejire-Adeyemi Toun, for confirmation of the arrest of a suspect did not yield positive results.

However, it was gathered that the state police commissioner, Victor Olaiya, has deployed a tactical team to Koro-Ekiti in collaboration with other security agencies to fish out the perpetrators and rescue the abducted victims.

The council chairman, while speaking on efforts made to free the abducted wife of the monarch and the other person, said that “the kidnappers had got in touch with the family demanding N100m ransom which has now been reduced to N40 million.”

“We are still negotiating with them and right now, I'm on my way to Koro to get the latest information on the negotiation. We will continue to brief you as the situation unfolds and we will keep you posted,” he added.