Jimoh Moshood, police spokesperson, said Chibueze was killed by the police special forces, led by the IG’s intelligence response team at 1am on Thursday.
He said that five suspected members of the gang were also arrested and a cache of arms and ammunition were recovered from them.
The force spokesman said the gang had been responsible for many kidnappings and robbery attacks in Imo, Abia, Rivers, Delta and other states in the south-east and south-south.
He said that the arrested members of the gang would be presented to journalists and charged to court on completion of investigation.
Chibueze was whisked away by his gang members on January 27 in the premises of an Owerri High Court.
He was arrested in 2015 and had been in prison custody following the kidnap of the wife of a government official.