Kidnappers holding the Chairman of Jezco Group, Chief Sir Joseph Ezeokafor, have reportedly increased their ransom demand from N700 million to N1.5 billion, raising fresh concerns over the safety of the septuagenarian businessman.
According to a report by Arise News, the abductors established contact with Ezeokafor’s family after kidnapping the businessman in Anambra State.
A source close to the family, who spoke anonymously, disclosed that the kidnappers initially demanded N700 million for his release.
The family was said to have accepted the initial demand and expressed willingness to meet the ransom as part of efforts to secure Ezeokafor’s safe return.
However, the abductors subsequently increased the demand to N1.5 billion, further complicating negotiations.
The source said the family remained willing to negotiate with the kidnappers but expressed concern that communication had since stopped.
Efforts by the family to re-establish contact with the abductors have reportedly failed, leaving relatives and associates increasingly worried about Ezeokafor’s condition and whereabouts.
Ezeokafor was reportedly abducted at about 2:00 a.m. on Tuesday, after leaving his residence for a prayer ground as part of his annual spiritual rejuvenation.
The businessman was said to have left home without adequate security personnel accompanying him, a situation that allegedly made him vulnerable to the abductors.
The incident has generated widespread concern among Ezeokafor’s family members, business associates and members of his community, particularly amid the reported breakdown in communication with the kidnappers.
More than a week after the reported abduction, the Anambra State Police Command and state government authorities had yet to issue an official statement confirming the incident or providing details about efforts to secure the businessman’s release.
The reported increase in ransom demand has further heightened concerns over the safety of the prominent businessman, with his family continuing to await renewed contact from the abductors.