The Managing Director of Fouani Company, a prominent representative of LG and Hisense, Mohamed Fouani, who was kidnapped alongside two Lebanese nationals, the boat captain, and his assistant, have been rescued.

The rescue operation took place late Monday night in the Orugbo Iddo area of Lagos, carried out by the Lagos State Marine Police with support from the Nigerian Navy.

Benjamin Hundeyin, the Police Public Relations Officer for Lagos State, confirmed the victims' rescue, stating, “Last night in Orugbo Iddo, five of them, three Lebanese, the boat captain, and his assistant were rescued. Our Marine Police, with the support of the Nigerian Navy, brought them to shore. Thereafter, our tactical team in the area took them home to Banana Island in the early hours of today.”

The kidnapping occurred on Friday while the group was sailing from Apapa to Victoria Island. They were abducted near Falomo Bridge. At the time of the report, it was unclear if the kidnappers, who had demanded a $1.5 million ransom, had received any payment before the hostages were freed.