The Economic and Financial Crimes Commission (EFCC) has begun probing the Managing Director of Paramount Energy Limited, Ralph Chinazum Ajah, over an alleged N72.3 million fraud in Enugu.
Operatives from the EFCC’s Enugu Zonal Directorate are investigating claims of obtaining by false pretence and stealing linked to the transaction.
According to the Commission, a petitioner accused Ajah of collecting N72.3 million for the supply of petroleum products to several business outlets. The payments were reportedly made in six instalments between April 11 and May 24, 2022.
The petitioner said the suspect failed to deliver the products despite repeated assurances.
“After collecting the money, he kept promising to supply the products but failed to do so. Preliminary findings showed that Ajah and his company lacked the capacity to fulfil the contract,” the petitioner alleged.
EFCC investigators said findings indicate that the funds were paid into Paramount Energy Limited’s account before being moved into Ajah’s personal account.
The Commission added that the suspect will be charged to court once investigations are concluded.
