PROF. AMEYAW-AKUMFI GRANTED GHC MILLION BAIL IN SKYTRAIN SCANDAL

Professor Christopher Ameyaw-Akumfi, the former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), has been granted bail to the tune of GH¢10 million by the Accra High Court. The bail was granted following multiple delays in the trial due to health-related issues that kept him from appearing in court.

On Monday, May 26, 2025, the court accepted his plea of not guilty to several charges, including willfully causing financial loss to the state, conspiracy to commit a crime, and the unlawful dissipation of public funds. The charges are linked to the controversial Accra SkyTrain project, which failed to materialize despite significant public investment.

The allegations stem from a $2 million payment made in February 2019 by the GIIF to Africa Investor Holdings Limited. The funds were reportedly meant for preliminary work on the proposed SkyTrain project. However, investigations have revealed that the payment was made without proper approval from the GIIF Board and without adequate due diligence. This has been deemed a serious breach of the fund’s internal governance and financial protocols.

Prof. Ameyaw-Akumfi is being prosecuted alongside Solomon Asamoah, the former Chief Executive Officer of GIIF, who has also pleaded not guilty. Mr. Asamoah was earlier granted bail amounting to GH¢15 million.

The court has adjourned the case to June 10, 2025, for the next hearing as the legal process continues.