A police source in Ikare Akoko, who confirmed the incident, told newsmen that the vehicle of the victims have been recovered from the scene of the incident.
A businessman, Augustine Okoye has been killed by kidnappers after they collected ransom.
The incident happened in Ugbe Akoko, Akoko North East council area of Ondo State.
It was gathered that Okoye, a popular cream dealer, was kidnapped alongside his wife, along the Isua-Ise Akoko highway on their way home from Isua market.
Vanguard reported that the assailants abducted and killed the businessman over some irreconcilable differences on the ransom paid by his family members. However, the wife was released.
A family source informed newsmen that the wife of the victim has declined to speak on the incident since her release.
"We have been trying to get some information from her since she was released but she has kept mute. She, however, said that the kidnappers warned her not to divulge any information about her experiences in their den otherwise they will come back for her," the source said.
"She told those close to her that the abductors also warned her not to disclose the amount paid to them as ransom and those who were involved in the negotiation and those who eventually brought the money to them."
A police source in Ikare Akoko, who confirmed the incident, told newsmen that the vehicle of the victims have been recovered from the scene of the incident.
The police source said men of the Ondo Amotekun corps and local vigilante groups were combing the forest to recover the dead body and arrest the suspects.