Kidnappers of the chairman of Jezco Group, Chief Sir Joseph Ezeokafor, have increased their ransom demand from N700 million to N1.5 billion for his release.
Ezeokafor, a septuagenarian businessman, was reportedly abducted in Anambra State about a week ago.
The kidnappers initially demanded N700 million from the businessman’s family.
A source familiar with the development, who spoke on condition of anonymity, said the kidnappers had established contact with the family after the abduction.
The source said the family accepted the initial N700 million demand as part of efforts to secure Ezeokafor’s release.
However, the kidnappers later increased the ransom to N1.5 billion.
The source said the family remained willing to negotiate with the abductors, but the kidnappers had stopped further communication.
The development has reportedly left the family in a difficult situation, as attempts to restore contact with the abductors have not yielded results.
Ezeokafor was kidnapped on Tuesday at about 2am after he reportedly left his home for a prayer ground as part of his annual spiritual rejuvenation.
He was said to have left his security details behind when he stepped out of his residence, providing the kidnappers with an opportunity to abduct him.
A week after the incident, the police and state government authorities have yet to make any official statement on the businessman’s abduction.
The Anambra State Police Command has also not publicly commented on the incident.
