The abductors of students and members of staff of the Tulip International School are demanding N1.2 ransom for the victims to regain their freedom.
Reports say the abductors reportedly called a family member of one of the victims on Sunday to make the demand.
Five staff members and three students of the school, formerly known as Turkish International School, were kidnapped by gunmen on Friday night from the school premises in Isheri Area of Ogun State, Southwest Nigeria.
The police confirmed that the gunmen invaded the school and took the students and the teachers away in a white Toyota Hilux vehicle.
The school authorities also said that the gunmen gained entrance through the back fence of the school premises and escaped through the swamp.