The kidnappers of the Chairman of Jezco Group, Chief Sir Joseph Ezeokafor, have reportedly increased their ransom demand from N700 million to N1.5 billion, as uncertainty continues to surround efforts to secure his release.
Ezeokafor, a septuagenarian businessman, was abducted in the early hours of Tuesday while reportedly heading to a prayer ground for his annual spiritual retreat.
A source close to the family, who spoke on condition of anonymity, said the abductors initially established contact with the family and demanded N700 million for the businessman’s release.
The family, according to the source, was prepared to meet the initial demand as part of efforts to bring Ezeokafor home safely.
However, the kidnappers were said to have later increased the ransom to N1.5 billion, a development that has complicated negotiations.
The source said the family remained willing to negotiate with the abductors but that communication had subsequently broken down, with attempts to re-establish contact reportedly unsuccessful.
The development has reportedly heightened anxiety within the family and among Ezeokafor’s associates, who have been awaiting his safe return since the abduction.
Ezeokafor was reportedly kidnapped at about 2am on Tuesday, shortly after leaving his residence for a prayer ground as part of his annual spiritual rejuvenation.
He was said to have left without his security details, a situation believed to have provided the abductors with an opportunity to seize him.
The businessman’s abduction has generated concern in his community, particularly among his associates and those familiar with his business activities.
However, more than a week after the incident, there has been no detailed public update from security authorities or the Anambra State Government.
The Anambra State Police Command has also not issued an official statement confirming the abduction or providing details of ongoing efforts to locate and rescue the Jezco Group chairman.
The latest information on the ransom demand could not be independently verified as of the time of filing this report.
Authorities have yet to publicly confirm whether any arrests have been made or whether security agencies have established the whereabouts of Ezeokafor.
