Ex-GIIF CEO Solomon Asamoah granted GH¢15m bail in $2m Sky Train scandal

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

Asamoah appeared in the High Court in Accra on the same day. The Attorney General filed charges against him and Prof. Christopher Ameyaw-Ekumfi. Asamoah's bail was set at GH¢15 million.

Prof. Ameyaw-Ekumfi did not attend court due to health issues. The court has scheduled his plea for May 20, 2025.

The Attorney General charged both men in connection with a $2 million Sky Train scandal. This payment was made in 2019 to Africa Investor Holdings Limited for an urban Sky Train system that was never built.

Court documents reveal that the funds were disbursed without board approval. This unauthorized release triggered criminal proceedings against both men.

Prof. Ameyaw-Ekumfi stated he approved the transfer based on Asamoah's recommendation. Neither man has accounted for the missing funds.

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

The Attorney General announced that investigations are complete and charges will be filed soon. They confirmed that only Asamoah and Ameyaw-Ekumfi acted on the payment without board approval.

Some board members have offered to testify as witnesses for the prosecution. A 2021 Auditor-General’s report revealed that no operational license existed for the Sky Train project when $2 million was disbursed under Ameyaw-Ekumfi’s leadership.

The project aimed to improve urban transport in Accra but never materialized after the payment.