Kidnappers of Anambra Billionaire Businessman, Jezco, Demand ₦1.5bn Ransom

The kidnappers of Anambra-based billionaire businessman and Chairman of Jezco Group, Chief Sir Joseph Ezeokafor, have reportedly increased their ransom demand to ₦1.5 billion, days after abducting the businessman.

Ezeokafor, popularly associated with the Jezco brand, was reportedly kidnapped in Anambra State while on his way to a prayer ground for a spiritual retreat.

According to sources close to the family, the abductors initially demanded ₦700 million for his release. The family was said to have agreed to the initial demand in an attempt to secure the businessman’s safe return.

However, the kidnappers subsequently raised their demand to ₦1.5 billion, representing an increase of about ₦800 million.

The latest demand has reportedly complicated efforts by the family to negotiate the release of the businessman. Sources said the abductors have also stopped communicating with the family.

Ezeokafor is the Chairman of Jezco Group, a prominent business conglomerate with interests in the petroleum and other sectors. His abduction has generated concern within Anambra’s business community, particularly because of his prominence and the growing security challenges in parts of the state.

The family is reportedly continuing efforts to establish contact with the kidnappers and secure Ezeokafor’s safe release.

Security agencies are also expected to intensify efforts to locate the businessman and apprehend those responsible for the abduction.

The incident comes amid continuing concerns over kidnapping and ransom demands in southeastern Nigeria, where wealthy businessmen and other prominent residents have increasingly become targets of criminal gangs.

As of the time of publication, there has been no detailed official statement from the security agencies confirming the full circumstances surrounding the abduction or the latest ransom demand.