Reports from Akure, the Ondo state capital, indicate that some gunmen on motorcycles on Thursday hijacked a school bus at Oba Ile Estate in Akure North Local Government.
It is not yet clear how many pupils were inside the bus.
Some eyewitnesses said pupils were inside the bus while others claimed only the attendant was taken away by the hoodlums.
It was learnt the incident occurred around 6:45am when the driver and his attendant went to pick pupils of Chimola School.
The gunmen were said to have dragged the driver out and drove away.
Ondo Police spokesman, ASP Tee-Leo Ikoro, said he was yet to be briefed on the incident.