$2m Sky Train case – Prof Ameyaw-Akumfi granted GH¢10m bail

Prof. Ameyaw-Akumfi, former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), has been granted bail. The bail amount is GH¢10 million with two sureties.

As part of his bail conditions, he must deposit his passport and travel documents with the court. He also needs to report to the investigator once a week. Prof. Ameyaw-Akumfi pleaded not guilty to charges of causing financial loss to the state.

His plea was taken on Monday, May 26. His lawyer informed the court that he had been hospitalized earlier that week. The case has been adjourned to June 10 at 9:00 a.m.

The Attorney General filed charges related to the $2 million Sky Train scandal. Charges were brought against Prof. Ameyaw-Akumfi and Solomon Asamoah, former CEO of GIIF. They are accused of diverting public funds into a private account for an unexecuted Sky Train project.

Reports indicate that $2 million was paid in 2019 to Africa Investor Holdings Limited for this project in Accra. However, there was no board approval for this payment or share acquisition, leading to criminal proceedings.

Prof. Ameyaw-Akumfi is named as the second accused in this case. He stated that he approved the transfer based on a recommendation from Solomon Asamoah, then Chief Executive of GIIF. Neither has accounted for the missing funds.

Solomon Asamoah was arrested on Tuesday, May 13, 2025, and granted bail after being arraigned before the High Court in Accra. However, he remains in custody because he failed to meet his bail conditions imposed a week ago.