The United States consulate announced on Monday that a foreigner was abducted from the highbrow area of the city, Victoria Island but did not mention the nationality of the victim.
Nigerian police later disclosed that the abducted person was a British businessman who was trailed by his abductors from a nightclub.
British foreign office website said, "A British national was kidnapped on Victoria Island, Lagos on 23 March and was subsequently released on 27 March."
Kidnappers in Nigeria often demand for ransom before their victims are released but no mention was made of any payment of ransom.