Ex-GIIF CEO granted ?15m bail in $2m Sky Train saga

The Attorney General, Dr. Dominic Akuritinga Ayine, has officially filed criminal charges against the former Chief Executive Officer of the Ghana Infrastructure Investment Fund (GIIF), and Prof. Christopher Ameyaw-Akumfi, former GIIF Board Chairperson, in connection with the controversial Accra Sky Train project.

The charges, detailed in a suit filed at the High Court (Criminal Jurisdiction) in Accra on May 13, 2025, relate to the alleged misapplication of US$2 million.

According to the charge sheet, both Mr. Asamoah (1st Accused) and Prof. Ameyaw-Akumfi (2nd Accused) face multiple counts, including:

• Conspiracy to commit a crime, to wit wilfully causing financial loss to the Republic, contrary to Section 23(1) and Section 179A(3)(a) of the Criminal Offences Act, 1960 (Act 29).
• Wilfully causing financial loss to the Republic, contrary to Section 179A(3)(a) of the Criminal Offences Act, 1960 (Act 29) (separate counts for each accused).
• Conspiracy to commit a crime, to wit intentional dissipation of public funds, contrary to Section 23(1) of the Criminal Offences Act, 1960 (Act 29), and Section 1(1) of the Public Property Protection Decree, 1977 (SMCD 140).
• Intentional dissipation of public funds, contrary to Section 1(1) of the Public Property Protection Decree, 1977 (SMCD 140) (separate counts for each accused).

The particulars of the offences state that in February 2019, Mr. Asamoah and Prof. Ameyaw-Akumfi allegedly agreed to act together with a common purpose to wilfully cause financial loss of US$2,000,000.00 to the Republic.

This was purportedly done by causing, without authorisation, the said amount belonging to the GIIF and the Republic to be paid to Africa Investor Holdings Limited. The payment was intended for the building of an urban sky train system in Accra, a project which, according to the charge sheet, “was never built.”