Police said Uzoma Daniel, 37, was abducted from his residence as soon as he drove in and whisked away in his Toyota Lexus 330 car.
He was trailed in a tricycle until he entered his compound.
Some members of the kidnap gang have been arrested by the Inspector-General of Police (IGP) Intelligence Response Team (IRT).
Daniel was killed in the kidnappers’ den at Ntighauzor in Obingwa Local Government Area of the state after his wife had paid N700,000 for his release.
The gang was just about picking up a further N300,000 they demanded when they were busted.
One Pump Action and locally-made double-barrel guns were recovered from the suspects, according to police.