A farmer, Femi Alawiye and nine of his workers are the victims.
They were abducted Saturday evening after being lured through phone calls that the farm was on fire.
On getting to the farm, the bandits pounced on them and whisked them away to an unknown destination.
The bandits were said to have contacted the family demanding 100million naira ransom.
The police public relations officer Funmi Odunlami who confirmed the incident, said efforts were ongoing to rescue the victims unhurt as five of them have been released by the bandits.
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