Kidnappers holding the Chairman of Jezco Group, Chief Sir Joseph Ezeokafor, have reportedly increased their ransom demand from N700 million to N1.5 billion.
Ezeokafor, a septuagenarian businessman, was reportedly abducted in Anambra State about a week ago.
A source familiar with the development said the abductors initially demanded N700 million from the businessman’s family after establishing contact with them.
The source, who spoke on condition of anonymity, said the family agreed to negotiate the initial demand in a bid to secure Ezeokafor’s release.
However, the kidnappers subsequently raised the ransom to N1.5 billion.
According to the source, the family remains willing to negotiate with the abductors but has been unable to re-establish communication with them after the ransom was increased.
The development has reportedly heightened concerns among the family, as efforts to restore contact with the kidnappers have so far failed.
Ezeokafor was reportedly abducted at about 2am on Tuesday after leaving his residence to attend a prayer ground as part of his annual spiritual retreat.
He was said to have gone out without his security details, a situation that allegedly gave the kidnappers an opportunity to abduct him.
As of Thursday, neither the Anambra State Government nor the state police command had issued an official statement confirming the abduction or the reported ransom demand.
The police have also not publicly commented on efforts to locate the businessman or secure his release.
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