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, according to a source close to the family.
Ezeokafor is the father of businessman and socialite, Joseph Ezeokafor Jr., popularly known as Jowizaza.
Arise TV, quoting sources, reports that the abductors initially demanded N700m after making contact with the family.
According to the source, the family agreed to the initial demand as part of efforts to secure the release of their father.
The kidnappers, however, were later said to have raised the ransom to N1.5 billion.
The source said the family remained willing to negotiate with the abductors, but communication has since broken down, with efforts to re-establish contact proving unsuccessful.
The latest development has reportedly left the family in a difficult position as they continue efforts to secure the safe return of the businessman.
Ezeokafor was reportedly abducted at about 2am on Tuesday while leaving his residence 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 home, a circumstance that reportedly made it easier for the kidnappers to carry out the abduction.
The incident has sparked concern among his associates, business partners and members of the community.
However, one week after the abduction, the Anambra State Police Command and the state government are yet to issue an official statement on the incident.
Ezeokafor’s whereabouts remain unknown as his family continues efforts to secure his release.
