Scores of Boko Haram militants stormed the Malari village and whisked away the males, aged between 10 and 23, into the nearby Sambisa forest, believed to be one of the militants major bases.
The news of the abductions came out only days later, when residents who fled the village arrived in the state capital Maiduguri late on Friday.
"They came in pick-up trucks armed with guns and gathered all the men in the village outside the home of the village chief where they preached to us before singling out 40 of our boys and taking them away," Bulama Muhammad told AFP.
Malari village lies 20 kilometres from the Sambisa forest and close to the town of Gwoza, which the militants captured last June declaring it part of their caliphate.
"My two sons and three nephews were among those taken away by the Boko Haram gunmen and we believe they are going to use them as conscripts," Muhammad said.
"When we heard of the kidnap of 40 boys in Malari by Boko Haram we decided to leave because we could be the next target," said Alaramma Babagoni, who fled from the nearby village of Mulgwi.
There was no immediate comment on the incident from the military in Maiduguri.
Boko Haram is still holding in captivity more than 200 schoolgirls it abducted from their school in Chibok in Borno state last April.
The militants are believed to control large swathes of territory in Borno as well as several towns and villages in two other northeastern states, Adamawa and Yobe.
Boko Haram's five-year uprising in Nigeria has claimed more than 13,000 lives and has seen dozens of people, including women and children, kidnapped by the militants.
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Islam does not permit killing of anybody no matter any religion you belong to, but what I believe is that the almighty Allah knows Averybpdy,and everybody will stand before him on the day of resurrection,the day Averybody will account for all his misdeed
They do all this in the name of Islam and all the Islamic elders keep silent.