Ameyaw-Akumfi granted GH¢10m bail

Prof. Christopher Ameyaw-Akumfi, former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), has been granted bail. The bail is set at GH¢10 million with two sureties. These sureties must be justified with landed property in Greater Accra.

As part of his bail conditions, he must deposit his passport and other travel documents with the court. He is also required to report to the investigator once a week. The case has been adjourned to June 10 at 9:00 a.m.

Prof. Ameyaw-Akumfi pleaded not guilty to several charges. These include causing financial loss to the state and conspiracy to commit a crime. His plea was entered on May 26 after he missed two previous court dates due to medical emergencies.

He is on trial alongside Solomon Asamoah, former CEO of GIIF. They are linked to a controversial transfer of $2 million in public funds. This money was transferred into a private account belonging to Africa Investor Holdings.

The prosecution claims this transfer lacked proper authorization and due diligence. It was allegedly intended for a proposed Sky Train project. The state argues that this transaction violated legal protocols, causing significant financial loss.

Both men deny any wrongdoing and plan to mount a full defense as the trial continues.