Professor Christopher Ameyaw-Akumfi, the former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), has been granted bail in the sum of GH¢10 million with two sureties to be justified with landed property in Greater Accra.
As part of the bail condition terms, Prof. Ameyaw-Akumfi has been ordered to deposit his passport and all other travel documents with the court and report to the investigator once every week.
The case has since been adjourned to June 10, 2025, at 9:00 a.m.
It will be recalled that Prof. Ameyaw-Akumfi recently pleaded not guilty to charges of wilfully causing financial loss to the state, intentional dissipation of public funds, and conspiracy to commit a crime.
His plea was recorded on Monday, May 26, after he missed two previous court appearances due to reported medical emergencies.
Prof. Ameyaw-Akumfi and Solomon Asamoah, a former CEO of the GIIF, are standing trial in connection with the controversial transfer of $2 million of public funds into a private account belonging to Africa Investor Holdings.
The alleged misappropriated funds belonging to GIIF are considered a public asset, and their unauthorised release has triggered criminal proceedings.
The Accra Sky Train Project
The proposed Accra Train system is an integrated, elevated rail urban transit system that was intended to provide an efficient, cost-effective, reliable, safe, and accessible public transport network in Accra.
The government, through GIIF, signed a concession agreement in November 2018 with the firm in Mauritius, Africa Investor, to construct the $ 1.9 billion Accra Skytrain project.
The Railway Minister at the time, Joe Ghartey, was confident that the project was the solution to the traffic congestion problems of Accra.
As a world-class mass transport system, the GIIF was optimistic that the project would create 5,000 jobs during its construction and further development of the capital.
But as of now, the sky train project is yet to be executed.
