Over 20 gunmen invaded the Palace of the paramount ruler of Esit, Eket Local Government Area of Akwa Ibom State, Chief Ubong Asam in the wee hours of Tuesday morning.
The kidnappers invaded the residence in a 14 seater Toyota Hiace bus and overpowered the monarch’s security detail.
As at press time it was learnt that the demand for ransom had already been made to the family for a sum of N150 million.
The abductors were said to have disclosed the reason for their action as their feeling shortchanged by the monarch and other area chiefs from the Exxon Mobil oil spill settlement paid by the oil major in 2012.
Exxonmobil paid N2.6 billion to the community which demanded N2.65 billion for oil spillage in their town.
The abductors said the kidnap was to enable them get their own share of the settlement proceeds.
Akwa Ibom state police confirmed the incident and said investigations were ongoing to uncover those behind the kidnap and also to rescue the victim.
Paramount rulers of Eket, Unna, and Ibeno, among others, were said to have visited Assam’s palace in Akpautong in solidarity.