IGP Mohammed Adamu announced the arrests of the four suspects on Thursday.
But he said four other suspects, including the ringleader named Tambaya are on the run.
Adamu has declared Tambaya a wanted man.
Those arrested are: Lawal Mazaje, 40, from Felele, Kogi and Adamu adamu, 50, from Jada in Adamawa.
The other two are Mohammed Shehu Usman, 26, from Illela Sokoto and Auwal Abubakar, 25, from Shinkafi, Zamfara state.
Funke Olakunrin was killed at Kajola on Ondo-Ore Road on 12 July 2019.
The murder, suspected to be by Fulani marauders triggered national uproar.
The police in a statement explained how the suspects were nabbed by a police crack team led by CP Fimihan Adeoye.
Four men suspected to have murdered Mrs Funke Olakunrin, daughter of Pa Reuben Fasoranti have been arrested.
IGP Mohammed Adamu announced the arrests of the four suspects on Thursday.
But he said four other suspects, including the ringleader named Tambaya are on the run.
Adamu has declared Tambaya a wanted man.