The Lagos State High Court in Ikeja has discharged and acquitted businessman Percy Abah of charges filed by the Economic and Financial Crimes Commission. The case concerned the alleged retention of N99.05 million said to be linked to fraudulent transactions at First City Monument Bank.
Justice Ismail Ijelu delivered the ruling on 29 October 2026. He held that suspicion, however strong, cannot replace proof beyond reasonable doubt. The prosecution failed to establish the case against the defendant.
The court found that the evidence presented did not meet the standard required for conviction. Abah was therefore discharged and acquitted on all counts.
By John James
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