The victim regained her freedom on Wednesday.
It was gathered that the Ogun State Commissioner of Police, Lanre Ogunlowo, led the operation that saw to the rescue of the retired AIG’s wife.
Force spokesman, Muyiwa Adejobi, disclosed Folashade’s rescue to Channels Television in a telephone conversation on Thursday.
During the operation, the kidnappers were neutralised.
Adejobi said the operatives equally recovered the ransom paid to the kidnappers as bait.
However, he refused to disclose the amount paid to the kidnappers or where exactly the victim was rescued.
Adejobi said the Inspector General of Police, Kayode Egbetokun, commended the CP and police operatives for the rescue efforts.
The Force spokesman reiterated the commitment of the Nigeria Police to safeguard Nigerians and the nation.
The retired AIG’s wife, Folashade Odumosu was abducted last Thursday at the entrance of her residence in the Arepo, Owode Local Government Area of Ogun State.
The abductors took the former AIG’s wife through a swampy area to an unknown destination after dragging her out of her Lexus Sports Utility Vehicle (SUV).