According to the police, the incident happened at the Oke Aro area of Akure, the Ondo State capital, on Saturday.
The police also arrested a 75-year-old man, Adaramola Ajuloko, in connection with the killing.
Parading the suspect on Tuesday, the state Police Public Relations Officer, Mr Femi Joseph, said the younger brother of the deceased, Seun, reported the matter to the police.
The PPRO said two other people, Deji Dada and Sunday Adaramola, who were allegedly involved in the act fled.
He said, “One Seun Makanjuola reported at ‘B’ Division Police Station, that his younger brother one Femi Makanjuola was stabbed to death for refusing to give a masquerader, Olu Olowookere, and his followers money. Both the masquerader and one Adaramola Ajuloko were arrested while Deji Dada and Sunday Adaramola are still at large.”
Joseph said the suspect would soon appear in court.
However, the masquerader, Olowookere, denied involvement in the killing , saying it was one of his followers that allegedly stabbed Makanjuola.
He said, “I don’t know anything about it; it may be one of my followers. The egungun festival is a tradition of our family and I was the one under the mask, I didn’t hold any knife, so I don’t know the person that killed him”
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