The growing commercialisation of kidnapping in Nigeria has come under renewed scrutiny following reports that gunmen have increased their ransom demand for the release of Anambra businessman, Chief Sir Joseph Ezeokafor, to N1.5 billion.

Ezeokafor, chairman of Jezco Group, was reportedly abducted in Anambra State about a week ago. The septuagenarian businessman is also the father of socialite and businessman Jowizaza.

According to reports attributed to a family source, the kidnappers initially demanded N700 million from the family. The demand was later raised to N1.5 billion, despite the family’s reported willingness to negotiate over the initial amount.

The situation reportedly worsened after the abductors stopped communicating with the family, raising concerns about Ezeokafor’s safety.

The latest incident has renewed concerns over the growing financial incentives behind kidnapping in Nigeria, where wealthy individuals and business owners are increasingly targeted for ransom.

The case has also heightened concerns about security in Anambra, particularly as reports indicate that no official statement had been issued by the state government or police at the time of publication.

The N1.5 billion demand highlights the enormous financial stakes involved in kidnapping and the difficult choices facing families seeking the safe return of their loved ones.