The abductors of Chairman of Jezco Group, Chief Sir Joseph Ezeokafor, have reportedly increased their ransom demand from N700 million to N1.5 billion.
Arise TV reported that the septuagenarian businessman was abducted in the early hours of Tuesday while travelling to a prayer ground for his annual spiritual retreat.
A source close to the family, who spoke on condition of anonymity, said the kidnappers initially demanded N700 million for Ezeokafor’s release.
The family was reportedly willing to negotiate with the abductors in an effort to secure the businessman’s freedom.
However, the kidnappers allegedly increased their demand to N1.5 billion.
The source said communication between the family and the abductors had subsequently broken down, despite the relatives’ reported willingness to continue negotiations.
The development has reportedly heightened concerns among Ezeokafor’s family and associates, with attempts to re-establish contact with the kidnappers said to have so far failed.
Ezeokafor was reportedly abducted after leaving his residence at about 2am without his security details, a situation that allegedly made him vulnerable to the attackers.
The incident has raised concern among members of his community and associates of the businessman.
The reported abduction occurred about a week ago, but neither the Anambra State Police Command nor the state government has publicly commented on the incident.
Meanwhile, details of Ezeokafor’s whereabouts and efforts by security agencies or his family to secure his release remain unclear.
