Gunmen who abducted eight residents of Imoga community in Edo North Senatorial District have reportedly reduced their ransom demand from N100m to N40m.
The traditional ruler of Imoga Kingdom, the Okpahi of Imoga, Oba Patrick Abudu, confirmed the development on Tuesday.
According to the monarch, the abductors initially demanded N100m shortly after the victims were taken away last Friday.
He disclosed that following sustained negotiations, the kidnappers first reduced the ransom to N70m on Monday before agreeing to N40m.
Oba Abudu said discussions were still ongoing, expressing optimism that the amount could be further lowered to N20m.
The traditional ruler noted that community leaders and other stakeholders were already mobilising resources and were prepared to raise the funds once a final agreement was reached.
He added that the abduction had disrupted activities in the kingdom, including preventing him from attending to other pressing responsibilities outside the community.
Abudu expressed deep concern over the safety of the abducted residents, noting that they had remained in captivity for five days.