Kidnappers Double Ransom for Jezco Chairman to N1.5 Billion

The abductors of prominent Anambra businessman Chief Sir Joseph Ezeokafor have more than doubled their ransom demand to N1.5 billion, complicating negotiations for the release of the septuagenarian founder of Jezco Group. Ezeokafor was kidnapped in the early hours of Tuesday, August 11, 2026, while traveling alone to a prayer ground for his annual spiritual retreat.

The kidnapping has thrown the Anambra business community into turmoil, with family and associates growing increasingly anxious over the businessman's fate. According to sources familiar with the situation, the kidnappers initially demanded N700 million, a sum the family was reportedly prepared to meet to secure his safe return. However, the abductors subsequently raised their demand to N1.5 billion, a move that has reportedly stalled communication. Efforts to reestablish contact with the kidnappers have so far failed, leaving the family in a state of heightened concern.

Ezeokafor, a respected philanthropist and the founder of Jezco Oil Nigeria Limited, established his company in 1980. It has since grown into a major enterprise with significant interests in the petroleum and lubricants sector. His abduction has drawn...