Sky Train Scandal: Former GIIF CEO still in custody as bail conditions remain unmet

Solomon Asamoah, the former CEO of the Ghana Infrastructure Investment Fund (GIIF), remains in custody. He failed to meet bail conditions set by the court last week.

Mr. Asamoah is on trial with Professor Christopher Ameyaw-Akumfi, the fund’s former Board Chair. They are accused of unlawfully transferring $2 million in public funds to Africa Investor Holdings. This company was contracted for the proposed Sky Train project.

Prosecutors claim the payment lacked proper authorization and no work was done to justify it. During his initial hearing on May 13, Mr. Asamoah pleaded not guilty. He was granted bail of GH¢15 million with two sureties who needed to provide landed property in Accra.

On May 20, it was revealed that Mr. Asamoah had not met these bail requirements and remains in custody. Professor Ameyaw-Akumfi was absent from court again due to reported ill health.

His lawyer, Duke Aaron Sasu, informed the court that he had been rushed to the hospital earlier that day. Justice Comfort Tasiame expressed concerns about Prof. Ameyaw-Akumfi's medical emergencies coinciding with court dates.

Despite this, his lawyer assured the court he would attend arraignment on Friday. Deputy Attorney General Dr. Justice Srem-Sai acknowledged these concerns and said they may reassess their approach regarding his absence.

The case has been adjourned until Monday, May 26, at 10:00 a.m.