The kidnappers of Jezco Group chairman, Chief Sir Joseph Ezeokafor, have reportedly increased their ransom demand from N700 million to N1.5 billion, leaving the family struggling to re-establish contact with the abductors.
A source familiar with the development said the kidnappers initially demanded N700 million after abducting the septuagenarian businessman in Anambra State. The family reportedly agreed to the initial demand as part of efforts to secure his release.
The abductors later raised the ransom to N1.5 billion, according to the source, who spoke on condition of anonymity. The family was said to have remained willing to negotiate but has reportedly been unable to continue discussions after the kidnappers stopped communicating.
The development has heightened uncertainty for the businessman’s relatives, who are said to be seeking ways to reopen communication with the abductors and secure his safe return.
Ezeokafor was reportedly abducted at about 2am on Tuesday, when he left his residence to attend a prayer ground for his annual spiritual rejuvenation. Sources said he left without his security details, after which the kidnappers reportedly intercepted him.
The businessman, who is in his 70s, has now been in captivity for about a week. His abduction has raised concerns among residents and business communities in Anambra, particularly amid the continued threat posed by kidnapping in parts of the South-East.
Despite the reported ransom demand and the passage of several days since the abduction, neither the Anambra State Government nor the state police command has publicly commented on the incident.
The police have also yet to officially confirm the abduction or provide details about any investigation or rescue operation. The silence has added to concerns surrounding the businessman’s whereabouts and the family’s efforts to secure his release.
