A police source, who pleaded anonymity, said on Saturday that the ammunition comprised cartons of cartridges hidden in a section of the truck.
The source also said that occupants of the vehicle who names were given as Amusa Amodu and Abdulazeez Isiaka were also arrested.
He stated that the truck with the number, Lagos XU 110 BDG, was coming from Burkina-Faso enroute to Ibadan before the officials of the Kosubosu Divisional Police Headquarters intercepted the vehicle.
He added that detectives had arrived at Kusobuso for further investigations into the matter.
He added that the officials of the command also arrested a golf car at Kaa Akanbi area of Ilorin. He stated that police officers on suspicion that the golf car was carrying illegal items pursued it.
According to him, the occupants of the vehicles abandoned the car and fled. He added that the police discovered two AK 4 rifles and two locally fabricated pistols and 22 rounds of AK47 ammunition from the abandoned golf car.
Garba said the police was on the trail of the occupants of the car with a view to arresting them.