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The abductors of the Chairman of Jezco Group, Chief Sir Joseph Ezeokafor, have reportedly increased their ransom demand to N1.5 billion for his release.

The kidnappers were said to have initially demanded N700 million from the businessman’s family.

A source who spoke anonymously disclosed that the abductors had made contact with the family following the kidnapping.

According to the source, the kidnappers first requested N700 million, which the victim’s family reportedly agreed to as part of efforts to secure his safe return.

However, the abductors were later said to have increased the ransom demand to N1.5 billion.

The source said the family remained prepared to negotiate with the kidnappers, but the abductors had subsequently ceased communication.

It was learnt that the development has placed the family in a difficult situation, as attempts to restore communication with the abductors have reportedly been unsuccessful.

One week after the septuagenarian businessman was abducted, neither the police nor state government authorities have publicly commented on the incident.

The Anambra State Police Command has also not issued any official statement regarding the abduction.

Ezeokafor was reportedly abducted around 2am on Tuesday after leaving his residence for a prayer ground as part of his annual spiritual retreat.

He was said to have gone out without his security personnel, a situation that reportedly gave the kidnappers an opportunity to abduct him.

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