At least nine passengers heading to Lagos from Abuja were kidnapped in Ondo state on Saturday.
The passengers, who were travelling in a Toyota Sienna bus, were said to have been abducted at Isua area of Akoko south east local government area of Ondo.
They were said to have been marched into a forest after their attackers ordered them out at gunpoint.
Tee-Leo Ikoro, police public relations officer in the state, confirmed the incident to reporters.
He said one of the victims has been rescued.
A family member of one of the victims, who pleaded anonymity, said the abductors have demanded a ransom of N100 million.
Ikoro said the police were working with hunters, local vigilante and other agencies.
The high level of insecurity in the country has been a source of concern to the government but many unsuccessful attempts have been made to check the situation.
Governors of the south-west had floated Amotekun, a local security outfit, to tackle criminality in the region.
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