The kidnappers of the Chairman of Jezco Group, Chief Joseph Ezeokafor, have reportedly increased their ransom demand from N700 million to N1.5 billion.
Ezeokafor, a septuagenarian businessman, was abducted on Tuesday at about 2am while reportedly leaving his home for a prayer ground.
A source said the kidnappers initially demanded N700 million, which the family agreed to pay as part of efforts to secure his release.
The abductors, however, later increased the demand to N1.5 billion and have since stopped communicating with the family.
The development has reportedly made it difficult for the family to negotiate his release, as efforts to restore contact with the kidnappers have failed.
The Anambra State Police Command and state government have yet to make an official statement on the abduction.
