Abuda was kidnapped alongside other people who had come home for the Christmas celebration on Saturday along the Benin-Akure road.
A Georgia-based Edo Prince, Eloniyo Dennis Abuda, who was kidnapped on his return journey back to the United States, has been killed by kidnappers after his family paid a ransom of N10 million.
Abuda was kidnapped alongside other people who had come home for the Christmas celebration on Saturday along the Benin-Akure road.
The decomposing body of Abuda was found on Tuesday near the small town of Agbanikaka, Ovia North East Local Government Area of Edo State.
Abuda, who was president of Fugar America Foundation, was reportedly shot dead by the kidnappers after slumping during the forced long march to the bush.
However, a family source told Nigeria Tribune that the corpse of the US-based Nigerian had been deposited at an undisclosed hospital in Edo State, pending burial arrangements by the grief-stricken relatives.
However, other abducted persons who were travelling with the deceased businessman were released safely.
The abductors, who initially demanded N20 million before setting the victims free, later reduced the ransom to N10 million after a series of negotiations and pleadings by the family members.
"Prince Abuda was shot dead by the abductors when he couldn't walk anymore and slumped. The kidnappers didn't want to leave him behind as they were afraid that he would reveal their hideout to security agencies and so decided to shoot him," a source said.