According to sources, the 82-year old queen is with security operatives, just as report says Governor Emmanuel Uduaghan is on his way to Ogwuashi-Uku to receive her.
Kamene Okonjo, an 82-year-old professor, was seized from her home in southern Nigeria on Sunday.
Kidnapping is common in southern Nigeria, where it is a lucrative criminal enterprise.
It is not clear if Mrs Okonjo was held for political or financial gain.
Earlier this week a finance ministry spokesman said that Mrs Okonjo-Iweala had been threatened recently.
Many businessmen, footballers and academics have been kidnapped for ransom in the south in recent months.