Residents of the town also said that the negotiation went between N15 million and N8 million before it settled at N1 million.
Mr Bamisaye, a retired chief pharmacist with the states health ministry, was seized while working on his farm, on Wednesday.
An 18-seater commercial bus with five passengers plunged into a ditch on the outskirts of a town in Ekiti and went into flames. The survivours sustained injuries.
The arrested suspects are Hassan Mesaje, Dagogo Nadahi, Saidi Laun, Abubakar Usman, Lawal Abdullahi, Usman Ibrahim, Idris Ahmed, Usman Abubakar and Dahiru Adamu.
The pastor said the amount is to take them to a place where “the gate of heaven will open for all of them to fly to heaven”, a member said.
Police spokesman Sunday Abutu said the thugs invaded the campaign ground of the SDP candidate to disrupt the rally in Efon Alaaye.
Oba Afeleye Orisagbemi is the fourth traditional ruler in Ekiti state to suffer a similar fate since last year.
The body of the woman, Ayodele Asaolu, was found in her house on Saturday evening without her head.
A shootout ensued between soldiers and the attackers as motorists deserted the busy Ayedun-Ilasa-Ayebode road.
Eyewitnesses say a minor and three farmers were taken away by the gunmen but the police say only two persons were abducted.
