The kidnappers holding Chief Sir Joseph Ezeokafor, Chairman of Jezco Group, have reportedly increased their ransom demand to N1.5 billion from the initial N700 million.
Ezeokafor, a septuagenarian businessman, was reportedly abducted around 2am on Tuesday after leaving his home to attend a prayer ground as part of his annual spiritual rejuvenation.
According to Arise News, the kidnappers contacted members of his family after the abduction and initially requested N700 million for his release.
A source familiar with the situation, who spoke anonymously, said the family agreed to the initial demand in an attempt to secure the businessman’s safe return.
However, the abductors later raised the amount being demanded to N1.5 billion.
The source said the family was still open to negotiations but had been unable to communicate with the kidnappers after contact was cut off.
Attempts to restore communication have reportedly yielded no result, leaving Ezeokafor’s family without confirmation of his condition or clarity on how to proceed.
It was further reported that the businessman left his security details behind when he headed to the prayer ground, reportedly making him vulnerable to the abduction.
