BREAKING: 60-Year-Old Oyo Headmaster Regains Freedom 48 Hours After N5m Ransom Payment

The headmaster was released at about 6:00 p.m. on Monday.

The kidnappers had initially demanded a ₦30 million ransom.

However, it was gathered that following negotiations, the family succeeded in reducing the ransom demand to ₦3 million, which the abductors initially accepted.

After the family had raised the ₦3 million, the kidnappers allegedly increased the demand to ₦5 million.

The family was said to have paid the ₦5 million ransom before Mr. Owoade was eventually released near the Ajebamidele community.

The headmaster has reportedly reunited with his family.

Confirming the release, the Oyo State Police Command noted that the victim was kidnapped along the Igbojaye–Budo Aare bush road in Oyo State on 12 July 2026.

The Police Public Relations Officer (PPRO), DSP Ayanlade Olayinka said following the immediate deployment of a coordinated joint security operation and sustained investigative efforts by the Command, the intense operational pressure mounted on the abductors forced the hoodlums to abandon the victim, who regained his freedom on the evening of 13 July 2026.

He said the victim had since been taken to a medical facility for evaluation and necessary treatment. 

“Upon completion of medical attention, he will be debriefed by investigators as part of the ongoing investigation aimed at identifying, apprehending, and prosecuting all those responsible for the criminal act.”

Meanwhile, the Commissioner of Police, Abimbola  Olugbenga has appreciates the unwavering support and cooperation of other security agencies, community members, and all well-meaning citizens throughout the operation.

He reassured residents that the Command remains resolute in its commitment to protecting lives and property and ensuring that criminal elements have no safe haven in Oyo State.

The Command urged members of the public to remain vigilant and continue to provide timely and credible information that will aid ongoing security operations.