Abductors of Anambra billionaire businessman, Chief Sir Joseph Ezeokafor, have increased their ransom demand to N1.5 billion and have since cut off communication with his family, sources close to the family said.
Ezeokafor, 70, Chairman of Jezco Group, was abducted in the early hours of last Tuesday while driving alone to a prayer ground for his annual spiritual retreat. He reportedly left home around 2am without security aides.
According to a family source who spoke to _Arise TV_ on condition of anonymity, the kidnappers initially demanded N700 million for the septuagenarian’s release.
“The family was prepared to negotiate,” the source said. “But the abductors later raised the demand to N1.5 billion.”
The source added that efforts to continue negotiations have stalled after the kidnappers stopped responding.
“The line went dead. We have tried to reach them again but there has been no response,” the source said. “It has put the family in a very difficult situation.”
News of the abduction has sparked concern among Ezeokafor’s business associates and community members in Anambra. The Jezco boss is widely known for his investments across the state.
About a week after the incident, neither the Anambra State Police Command nor the state government had issued an official statement on the abduction.
The circumstances around his current location and ongoing rescue efforts remain unclear.
Security experts say leaving home without guards in the early hours made the businessman vulnerable to the attack.
Chief Ezeokafor heads Jezco Group, a conglomerate with interests in manufacturing, real estate and trading. He is a respected philanthropist and church leader in Anambra.
His abduction is the latest in a string of high-profile kidnappings targeting businessmen in the South East.
As of press time, the family said they were working with security agencies to secure his release.
