The family of the abducted billionaire faces new hurdles as captors hike their ransom demands
Kidnappers holding Jezco Group chairman Joseph Ezeokafor have increased their ransom to N1.5 billion. Reports state the captors cut off contact after the family agreed to pay the new sum. The billionaire businessman was taken in Anambra State in August 2026.
ValidUpdates understands that the abduction case of Chief Sir Joseph Ezeokafor has taken a severe turn. The incident shocked many when gunmen abducted the billionaire father in Anambra State.
Fresh reports reveal new details about the ongoing hostage situation. The captors initially asked the family to pay N700 million. The Ezeokafor family promptly agreed to pay this huge sum.
Ransom demands escalate
Fred Chukwuelobe shared updates regarding the tense negotiations. He serves as an aide to former governor Chris Ngige.
Anambra News posted the update from Iyke Orji online. He wrote: ”The kidnapers has contacted the family and made their demands”.
Orji added: ”According to reports by an aide to Former governor Chris Ngige (Fred Chukwuelobe), They’re demanding for 700 million which the family agreed to pay just for their Own to come out”.
The situation worsened when the armed group changed their terms. They doubled the ransom price despite the initial agreement. The family quickly accepted the new N1.5 billion demand.
The Facebook post detailed: ”The criminals then came back and increased it to 1.5 billion and the family has also agreed to pay”.
Captors cut all contact
Fear is growing because the kidnappers have stopped calling. The sudden silence leaves the wealthy family in deep distress.
The update warned: ”The kidnappers has since refused to engage further with family after the family accepted to pay the 1.5 Billion”.
Supporters of the Jezco Group chairman continue to pray. Many residents feel outraged by the blatant disrespect. They hope the respected elder returns home safely soon.
Orji prayed: ”May God preserve Jezco for all of us”.
He lamented: ”Imagine an odogwu being priced like tomatoes”.
He concluded: ”Alu melu”.
