It was gathered that the undergraduate was murdered for allegedly rejecting sexual advances from some youths in the area and also for "being too proud."
PUNCH Metro learnt that the victim was a 300 level student of Biochemistry at the university.
Police authorities told our correspondent that Opeyemi was stabbed to death by the cultists at her parents' house in the Alakuko area of Lagos on February 3, 2014.
Police sources told PUNCH Metro that investigations had revealed that the culprits were residents of the area.
A police officer, who wished to remain anonymous, said, "In the afternoon of February 3, 2014, the deceased went to buy airtime for her telephone. As she was returning, a group of cult members trailed and entered the house with her.
"Opeyemi was alone at home when the guys entered. They instructed her to turn on the generator so that if she screamed, no one would hear.
"We believe that they wanted to rape the girl, but she must have put up a fierce struggle as the whole house was scattered.
"The guys subsequently stabbed her in the stomach several times and ripped out her intestines.
"After killing her, they took her phone and the keys to her parents' vehicle, a jeep, which was on the table. They stole the jeep, which was parked in the compound, after killing the girl."The sources told our correspondent that after the guys had fled, they used Opeyemi's telephone line to send a text message to her mother, explaining why they killed the 17-year-old.
The text message, which was typed in English and Yoruba languages, and made available to our correspondent, read, "Your child has been proud. We have been toasting her, but she has refused to accept. We have killed her to teach a lesson. We have also driven your car away.
"If you want your car back, come to Lakas Hotel or Cele Bus Stop around Mile 2 to pick it up. If we see policemen around, we will kill everybody."Residents of the area told our correspondent that the victim's mother, Olayinka, had a panic attack after reading the message and quickly informed those that were with her.
However, a phone call from the family's housemaid was said to have confirmed Olayinka's fears that the text message was not a bluff.
It was learnt that she returned to the house to meet the lifeless body of her child.
PUNCH Metro gathered that the mother of the deceased, who is a senior official at the Mushin Local Government secretariat, later reported the incident at the Alakuko Police Division.
A police source told our correspondent that the murder weapon had been recovered.
"By all indications, the girl was not raped because her clothes were intact. The knife used in killing her has been recovered," the policeman said.It was gathered that the parents of the girl had relocated to the Redemption Camp on the Lagos-Ibadan Expressway.