A moneylender was gunned down by suspected underworld members at Bloemendhal Road in Kotahena on Saturday night.

Police said according to eye witness two persons who came on motorcycle shot the businessman as he had refused to pay Rs 100,000 by way of protection money.

The deceased has been identified as Saibu Nana of Kotahena. A 9MM pistol had been used for the killing, the police said.

The Kotahena Police are conducting further investigations.