Mr. Olambitan, who was abducted by fake military officers at a checkpoint near Kwale road while on his way to Abuja, regained freedom at about 9:50pm on Wednesday.
A source that spoke in confidence to a SaharaReporters correspondent in Akure, disclosed that the kidnappers released Mr. Olabimtan after his family had paid a ransom.
The source added that the former Speaker was immediately rushed to a private hospital in Abuja where he is currently receiving treatment.
“[Mr.] Olabimtan has been released. He was set free at about 9:50pm today. I can confirm to you that a ransom was paid but I can’t state exactly how much was given to the kidnappers,” the source stated.
“As am speaking to you, the former speaker is recuperating at a private ward of a hospital in Abuja. The doctor has already prescribed drugs for him and hopefully he will soon reunited with his family members and political associates,” the source said.