Armed men have abducted the Managing Director of Fouani Company, the representative of LG and Hisense brands in Nigeria, along with three Lebanese nationals.

The incident occurred while they were traveling by boat in Lagos.

The kidnapping took place near the Falomo Bridge as the victims were en route from Apapa to Victoria Island.

The identities of the victims have not yet been confirmed.

A source familiar with the situation, who requested anonymity disclosed that the kidnappers are demanding a ransom of $1.5 million.

“Yesterday evening, the Managing Director of Fouani Company (LG and Hisense) and three Lebanese were kidnapped around Falomo Bridge while travelling from Apapa to Victoria Island by boat. The kidnappers have asked for $1.5 million,” the source disclosed.

Lagos State Police Public Relations Officer, Benjamin Hundeyin, confirmed the incident to Punch, stating, “Yes, it is true. We got the report and we are looking into it. Please, I’m not obliged to state more than that.”

The incident has raised concerns about the security situation in Lagos, particularly regarding the safety of business executives and expatriates.