Prof. Ameyaw-Akumfi Granted GH¢10M Bail in $2M Sky Train Financial Scandal
Former GIIF Chairman Prof. Ameyaw-Akumfi granted GH¢10M bail over $2M Sky Train fund transfer. He faces charges of financial loss to the state and conspiracy.
Isaac Mintah 
Former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), Professor Christopher Ameyaw-Akumfi, has been granted bail to the tune of GH¢10 million with two sureties to be justified by landed property within Greater Accra, in connection with a high-profile financial scandal involving the controversial Sky Train project.
As part of the strict bail conditions, Prof. Ameyaw-Akumfi is required to:
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Deposit his passport and travel documents with the court.
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Report weekly to the investigator handling the case.
The court has adjourned proceedings to June 10, 2025, at 9:00 a.m., as the legal battle intensifies.
Charges and Allegations
Prof. Ameyaw-Akumfi, a respected academic and former Minister of Education, has pleaded not guilty to three serious charges:
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Wilfully causing financial loss to the state
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Intentional dissipation of public funds
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Conspiracy to commit a crime
His plea was formally entered on Monday, May 26, after he missed two earlier court appearances due to medical emergencies.
He is standing trial alongside Solomon Asamoah, a former CEO of GIIF.
According to the Attorney General’s Office, the duo is implicated in the unauthorised transfer of $2 million of public funds into a private account belonging to Africa Investor Holdings. The funds were allegedly earmarked for the Sky Train project, which has since stalled.
Prosecution’s Position
The state alleges that:
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The $2 million transfer was conducted without proper due diligence or legal clearance.
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The transaction violated standard financial protocols and lacked sufficient documentation.
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The decision resulted in significant financial losses for the government of Ghana.
Investigations suggest that the Sky Train initiative, once touted as a groundbreaking public transport solution for Accra, was used to justify questionable financial dealings.
Public Interest and Legal Implications
The case has drawn widespread public attention, with legal analysts and civil society groups calling for accountability and transparency in public infrastructure financing. The scandal raises broader concerns about governance and fiduciary responsibility within state-owned enterprises and infrastructure investment bodies.
Should the charges be proven in court, the implications could be far-reaching, including criminal convictions, asset forfeiture, and increased public scrutiny of future state-led projects.
