Ralph Chinazum Ajah, managing director of Paramount Energy Limited is currently in the custody of the Economic and Financial Crimes Commission (EFCC), over an alleged N72.3 million fraud.
The anti-graft agency said Ajah is being probed for allegedly obtaining money by false pretence and theft.
Preliminary investigations showed that Ralph Chinazum Ajah and his company do not have the capacity to supply the products and he deliberately defrauded us of our business capital.”
The commission said its preliminary findings revealed that Ajah received the funds through the account of Paramount Energy Limited before allegedly transferring the money to his personal account for private use.
The commission said its preliminary findings revealed that Ajah received the funds through the account of Paramount Energy Limited before allegedly transferring the money to his personal account for private use.
The EFCC added that the suspect will be charged to court upon the conclusion of investigations.
