The five people arraigned were Abubakar Auta, Bello Jannu, Umaru Ibrahim, Masahudu Muhammed and Idris Lawal.
They allegedly masterminded the abduction of the former Minister for Finance on Sept. 21 at his farm in Ilado, Akure North Local Government Area of Ondo state.
The accused persons were said to have released Falae on Sept 24 after a ransom of N5 million was paid.
They were arraigned on a five-count charge of kidnapping and abducting, aiding and abetting, kidnapping, conspiracy and armed robbery.
They all pleaded 'not guilty' to the offences and the presiding judge, adjourned the case till Nov. 10 for further hearing.
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