Prof Ameyaw-Akumfi, the former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF) has been granted bail in the sum of GH¢10 million with two sureties.
The former GIIF board chair is to deposit his passport and all other travel documents with the court and report to the investigator once every week as part of the bail conditions.
Prof Ameyaw-Akumfi pleaded not guilty to charges of causing financial loss to the state.
According to reports, Prof Ameyaw-Akumfi’s plea was taken on Monday, May 26 after his lawyer Professor Christopher Ameyaw-Akumfi’s lawyer, Duke Aaron Sasu some days ago informed the court that the former board chair was rushed to the hospital early Tuesday morning.
The court has since adjourned the case to June 10 at 9:00 a.m.
The Office of the Attorney General filed charges against suspects involved in the $2m Sky Train scandal.
The charges were filed against the former Board Chair of the Ghana Infrastructure Investment Fund (GIIF), Professor Christopher Ameyaw-Akumfi and Solomon Asamoah former CEO of the GIIF over the $2 million of public funds into a private account belonging to Africa Investor Holdings for the supposed Sky Train project.
According to reports the charges brought under Section 23(1) and Section 179A(3)(a) of the Criminal Offences Act, 1960 (Act 29), indicate a $2 million payment made in 2019 to Africa Investor Holdings Limited for the development of an urban Sky Train system in Accra—a project that was never executed.
The court documents suggest the funds were disbursed in February 2019 without the necessary board approval for either the share acquisition or the payment itself it unauthorized release has triggered criminal proceedings.
The $2 million violated proper procedure, Professor Ameyaw-Akumfi has been named as the second accused in the case informed investigators in his caution statement that he only approved the transfer based on a recommendation by the first accused, Solomon Asamoah, then Chief Executive of the GIIF.
Neither Professor Ameyaw-Akumfi nor Solomon Asamoah have been able to account for the missing funds.
Meanwhile, Solomon Asamoah, the former Chief Executive Officer (CEO) of Ghana Infrastructure Investment Fund (GIIF) was granted bail after he was arrested on Tuesday, May 13, 2025.
The former CEO’s bail was granted after he was arraigned before the High Court in Accra on May 13, 2025, after the Attorney General filed charges against him and Prof Christopher Ameyaw-Ekumfi.
However, it has been revealed that Solomon Asamoah remains in custody after failing to meet bail conditions imposed a week ago.
