RismadarVoice Reporters, April 30, 2026
Operatives of the Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have begun investigating Mr Ralph Chinazum Ajah, Managing Director of Paramount Energy Limited, over an alleged N72.3 million fraud.
According to a petition received by the Commission, the complainant claimed to have paid the sum in six tranches between April 11 and May 24, 2022, for the supply of petroleum products to his business outlets. The petitioner alleged that after receiving the funds, the suspect failed to deliver the products and continued to make unfulfilled promises.
The petitioner further stated that preliminary findings suggested that the company lacked the capacity to execute the contract, alleging that the funds were obtained under false pretences.
Preliminary investigations by the EFCC indicate that the money was paid into Paramount Energy Limited’s account and was subsequently transferred to the suspect’s personal account.
The Commission noted that the suspect will be charged in court upon the conclusion of investigations.
