The abductors of Jezco Group Chairman, Chief Sir Joseph Ezeokafor, have reportedly increased their ransom demand from N700 million to N1.5 billion.
The septuagenarian businessman was reportedly abducted early Tuesday while travelling to a prayer ground for his annual spiritual retreat.
A source close to the family told Arise TV that the kidnappers initially demanded N700 million, prompting the family to consider negotiating for his release.
However, the abductors later raised the demand to N1.5 billion, while communication between them and the family has reportedly broken down.
Ezeokafor was said to have left his residence around 2am without his security details, leaving him vulnerable to the kidnappers.
Neither the Anambra State Police Command nor the state government has publicly commented on the reported abduction, while efforts to establish contact with the kidnappers and secure his release reportedly continue.
