The Office of the Attorney General has concluded its prosecution in the high profile Sky Train trial involving two former officials of the Ghana Infrastructure Investment Fund accused of causing financial loss to the state through a controversial $2 million payment linked to the proposed Accra Sky Train project.
Deputy Attorney General and Minister of Justice Dr Justice Srem-Sai confirmed that prosecutors formally closed the state’s case on Tuesday in the matter titled The Republic v Solomon Asamoah and Another.
According to him, the prosecution team completed the presentation of evidence against the two accused persons, who include former GIIF Chief Executive Officer Solomon Asamoah and former Board Chairman Christopher Ameyaw-Akumfi.
“This morning, our team of hard working Prosecutors closed the prosecution’s case in The Republic v Solomon Asamoah and Another, also known as the Sky Train case”.
Deputy Attorney General and Minister of Justice Dr Justice Srem-Sai
The Deputy Attorney General explained that the accused persons are standing trial over the alleged payment of $2 million to a foreign company without the required board approvals and other authorisations.
Court Grants Time for No Case Submission
Following the close of the prosecution’s case, lawyers for the accused requested permission to file a submission of no case, arguing that the evidence presented by the state does not justify requiring the accused persons to open a defence.
The trial court granted the request and gave the defence until 8 June to file their submission. Dr Justice Srem-Sai explained that the next phase of the trial will depend on whether the court finds merit in the defence application.
“The Court gave them up to June 8 to file their submission. If the submission makes sense to the Judge, the Accused Persons will be acquitted and discharged. If it doesn’t make sense, the Judge will ask the Accused Persons to explain why they should not be sent to jail”.
Deputy Attorney General and Minister of Justice Dr Justice Srem-Sai
The development marks a significant stage in one of Ghana’s most closely watched financial crime prosecutions involving a major infrastructure proposal that never materialised.
The Sky Train Project
The case originates from efforts by the Government of Ghana in 2018 to pursue a public private partnership with Africa Investor Holdings Limited for the design, financing, construction and operation of an urban sky train system in Accra.
Under the arrangement, the Ghana Infrastructure Investment Fund was expected to conduct due diligence and act as the anchor equity partner for the proposed transport project.
In 2019, a payment of $2 million was reportedly transferred to Africa Investor Holdings Limited, a company incorporated in Mauritius and Seychelles, for the purchase of 10 ordinary shares in a Special Purpose Vehicle known as Ai Sky Train Consortium Holdings.
However, according to prosecutors, the project failed to progress beyond its initial stages. Feasibility studies were allegedly never completed, executive and parliamentary approvals were not obtained and no railway infrastructure was eventually constructed.
The state maintains that the payment resulted in a complete financial loss because the funds cannot be recovered and no operational project emerged from the transaction.
Prosecution Alleges Governance Breaches
The prosecution’s case has largely centred on claims that the payment violated corporate governance procedures within GIIF and was undertaken without proper institutional approval.
According to evidence presented by the Attorney General’s office, several former GIIF board members testified that the $2 million transfer was never formally approved by the board. Prosecutors also alleged that a related entity known as Ghana Sky Train Limited was incorporated without the knowledge of the GIIF board.
The prosecution further relied on findings from Auditor General reports suggesting that the premium payment represented a complete loss to the state due to the collapse of the venture. The state argues that the accused persons acted outside approved governance structures in authorising and facilitating the transaction.
Defence Rejects Criminal Allegations
Lawyers representing Solomon Asamoah and Professor Ameyaw-Akumfi have strongly denied wrongdoing and insist that the prosecution is politically motivated.
The defence argues that the investment process followed established procedures at the time and that there is documented evidence showing the project received institutional consideration.
According to the defence team, investment committee minutes and internal correspondence from 2018 demonstrate that the proposed project was circulated to board members for ratification without objection.
The lawyers also maintain that there is no evidence of personal embezzlement or diversion of funds by the accused persons.
Instead, they argue that the transaction formed part of a standard investment process that later failed due to external circumstances including the global disruption caused by the Covid-19 pandemic.
Professor Ameyaw-Akumfi’s legal team additionally contends that he acted in good faith based on technical recommendations and briefings provided by the then GIIF management.
Awaiting Judicial Determination
The court’s decision on the pending submission of no case is now expected to determine whether the accused persons will be required to open their defence or whether the case will end without further proceedings. The ruling could become an important moment in Ghana’s handling of public financial accountability and governance-related prosecutions.
The Sky Train case has remained under public scrutiny because of the scale of the proposed infrastructure project and the controversy surrounding the expenditure of public funds on a venture that never advanced beyond the planning stage.
As the June deadline approaches, attention is expected to remain focused on the court’s assessment of the prosecution’s evidence and the defence’s arguments.
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