Kidnappers of the Chairman of Jezco Group, Chief Sir Joseph Ezeokafor, have reportedly demanded a N1.5 billion ransom for his release.
Earlier, the abductors had asked the family to pay N700 million.
A source, who spoke on condition of anonymity, disclosed this, saying the kidnappers had established contact with the family.
The source said the kidnappers initially demanded N700 million, a figure that the victim’s family reportedly accepted as part of efforts to secure their father’s release.
The kidnappers, however, were said to have subsequently raised their demand to N1.5 billion.
The source said the family had remained willing to negotiate with the abductors, but the kidnappers had since stopped further engagement with the family.
It was gathered that the development has left the family in a difficult position, as efforts to reopen communication with the abductors have reportedly not yielded results.
A week after the septuagenarian businessman was kidnapped, the police and the state government authorities have remained silent on the incident.
Anambra State Police Command has yet to make any official statement on the incident.
Ezeokafor was kidnapped on Tuesday at about 2 am when he reportedly left his home for a prayer ground for his annual spiritual rejuvenation.
He was said to have left his security details behind when he stepped out of his house, giving the kidnappers easy access to him.
