Hundreds of sympathisers had trooped to the residence of the 92-year old elder statesman immediately news of his released started circulating in the Borno State capital.
Monguno, however, urged sympathisers who had come to rejoice with him not to cry, saying “They did not kill me, so don’t cry.”
The Governor of Borno state, Mr Kashim Shettima, also appealed to the crowd to let him have some rest and not disturb him for at least 24hours.
Thereafter, security agents cordoned off the residence.
There has been no confirmation whether ransom was paid for Mr. Monguno release.
The former Minister of Mines and Power and also Petroleum Minister was abducted by gunmen as he left the mosque after Jumat prayers on Friday, in the Mafoni ward area of the city.
He was whisked away by four young and well-armed men as he was taken off to his house in GRA Maiduguri.