$2m Sky Train case – Ex-GIIF CEO Solomon Asamoah released on bail

Solomon Asamoah, the former CEO of the Ghana Infrastructure Investment Fund (GIIF), has been released on bail. He was arrested on Tuesday, May 13, 2025.

His bail was granted after appearing in the High Court in Accra. The Attorney General filed charges against him and Prof. Christopher Ameyaw-Ekumfi. Asamoah's bail was set at GH¢15 million, but he initially failed to meet the conditions.

Recent information shows that he has now satisfied all bail conditions related to the $2 million Sky Train case. The Attorney General charged both Asamoah and Prof. Ameyaw-Ekumfi under Section 23(1) and Section 179A(3)(a) of the Criminal Offences Act, 1960 (Act 29).

The charges involve a $2 million payment made in 2019 to Africa Investor Holdings Limited for an urban Sky Train system in Accra. This project was never executed.

Court documents indicate that funds were disbursed in February 2019 without necessary board approval. This unauthorized release triggered criminal proceedings against both men.

Prof. Ameyaw-Ekumfi is named as the second accused and stated he approved the transfer based on Asamoah's recommendation. Neither man has accounted for the missing funds.

Prof. Ameyaw-Ekumfi was detained near Nima in Greater Accra but later released on bail. He was implicated in the failed $3 billion Accra Sky Train project.

The Attorney General recently briefed the media about this matter. They confirmed that investigations are complete and charges will be filed next week.

The AG stated that only Asamoah and Ameyaw-Ekumfi acted on the payment without board approval. Some board members have offered to testify as witnesses for prosecution.

A 2021 Auditor-General’s report revealed that a Special Purpose Vehicle for the Sky Train project lacked an operational license when $2 million was disbursed under Ameyaw-Ekumfi’s leadership.

The project aimed to transform urban transport in Accra but never materialized after the payment was made.