Popular Businessman Ade Bendel Regains Freedom After Ransom Payment
After days of anxiety and intense negotiations, popular Nigerian businessman Prince Bankole Adepegba, widely known as Ade Bendel, has been released by his abductors following the payment of a N300 million ransom.
Adepegba was kidnapped on the night of Wednesday, April 30, 2025, when armed men invaded Ilara, a border community in Imeko-Afon Local Government Area of Ogun State. The gunmen reportedly struck around 11 p.m., killing two individuals before whisking the businessman across the border into the Republic of Benin.
Lagos Reporters gathered from reliable sources that the kidnappers demanded a ransom in CFA francs, and eventually released Adepegba to his family in the early hours of Saturday, May 3, after collecting 100 million CFA francs — approximately N300 million.
Security expert Zagazola Makama confirmed the development, stating that the business mogul is now receiving medical care at BOHCON Hospital in the Republic of Benin following the trauma of the abduction.
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Police sources also disclosed that Adepegba’s Toyota Corolla, which was seized during the incident, was later recovered and is currently being held at the Sabe Police Station in the Republic of Benin.
The cross-border nature of the abduction has raised concerns over the increasing vulnerability of communities along Nigeria’s borders, and calls for enhanced regional security cooperation have grown louder in the wake of this high-profile case.
Credit: Lagos Reporters
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