Muazu confirmed the incident in a telephone interview with the News Agency of Nigeria (NAN) on Friday in Kano.
He said that Babangida, aged 28 and father of two, was kidnapped around 12 midnight at his residence in Kiru.
The chairman, however, declined to give further details but said the matter had since been reported to the state police command.
“The police have already swung into action with a view to rescuing the victim, “Muazu said.
It was gathered that the armed hoodlums, who stormed the residence of Babangida around 12 midnight and whisked him away, are demanding for the payment of N50 million ransom before releasing him.
Efforts to get reaction from the police command was unsuccessful as the phone line of its spokesman, SP Magaji Majiya, was not going through as at the time of filing this report.
