President Muhammadu Buhari has directed Inspector-General of Police, IGP Solomon Arase, and other security agencies to take all necessary action to ensure the safe and speedy rescue of former Minister of Finance, Chief Olu Falae, who was abducted from his farm in Akure, Ondo State, on Monday.

The abductors initially demanded a ransom of N100 million but came down to N90 million yesterday.

“President Buhari condemns the callous and reprehensible kidnapping of the former Secretary to the Government of the Federation and elder statesman,” Buhari’s Special Adviser on Media & Publicity Femi Adesina said this morning.

“The President,” according to a statement issued this morning in Abuja by Adesina, “assures Chief Falae’s family, friends and other concerned Nigerians that the Federal Government will do all within its powers to ensure his swift release.

“President Buhari, who has requested constant updates from the police and security agencies on efforts to find and rescue Chief Falae, also denounces the recurring incidents of criminal abductions across the country.

“He assures all Nigerians that ongoing efforts to significantly enhance the security of lives and property in the country will continue apace and that under his leadership, Nigerians, irrespective of their status, will no longer be left at the mercy of criminal elements.”

•Photo shows Chief Falae.