$2m Skytrain Payment: Ayine Ready For Plea Bargain … As Prof Ameyaw Akumfi, Solomon Asamoah Are Charged

Professor Christopher Ameyaw-Akumfi to Appear in Court

Professor Christopher Ameyaw-Akumfi, former Board Chair of the Ghana Infrastructure Investment Fund (GIIF), will appear in court later this month. He faces charges related to the alleged loss of $2 million in public funds. This money was intended for the failed Accra SkyTrain project.

His co-accused, Solomon Asamoah, was present in court on May 13, 2025. He pleaded not guilty to six counts, including causing financial loss and conspiracy. However, Prof. Ameyaw-Akumfi did not attend due to health issues and is recovering from surgery abroad.

The court has set May 29, 2025, for Prof. Ameyaw-Akumfi's plea. The Attorney General is open to plea bargaining if both accused are willing.

According to the charge sheet, both men authorized a $2 million transfer from GIIF to Africa Investor Holdings Limited in 2019. This was part of a deal for an urban SkyTrain system in Accra that never happened. Authorities say there is no trace of the money or the company involved.

Solomon Asamoah received bail of GH¢15 million with two sureties from Justice Comfort Kwasiwor Tasiame. The sureties must provide title deeds for properties in Accra. Additionally, Asamoah must surrender his Ghanaian and British passports and report to investigators three times a week.

Counsel Edem Nuhoho argued for lenient bail terms due to Asamoah’s cooperation with investigators and his caregiving role for his elderly mother. He noted that Asamoah held a Zoom meeting with investigators while abroad and returned voluntarily to Ghana.

However, Deputy Attorney-General Dr. Justice Srem-Sai expressed concerns about the bail conditions given the amount involved. He urged the court for more substantial sureties.

Prof. Ameyaw-Akumfi served as GIIF Board Chair from 2017 to 2021. Solomon Asamoah was CEO from 2017 until 2024. The GIIF was established under Act 877 in 2014 to manage funds for infrastructure development in Ghana.

The failed SkyTrain project was a key initiative under the former Ministry of Railways Development, which signed an agreement with Africa Investor Holdings in November 2018. Despite significant funding, no SkyTrain infrastructure exists in Accra, and the company cannot be located.

The case will continue on May 29 when Prof. Ameyaw-Akumfi is expected to enter his plea. The outcome may impact public accountability regarding national infrastructure funds.

Dr. Justice Srem-Sai told journalists that funds were moved abroad without authorization and are untraceable. He stated that taxpayers’ money was used improperly and added that they cannot account for its use or location.

The Deputy AG mentioned that the State is open to plea bargains aimed at retrieving lost funds: “We welcome any accused willing to return money for developmental needs.”