The High Court in Accra has granted GH₵10 million bail to Professor Christopher Ameyaw-Akumfi, the 80-year-old former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF).
On Monday, May 26, 2025, the bail was granted following a vigorous application by his attorney, who emphasized his long service to Ghana, advanced age, and declining health as the main reasons for his release.
The court, which was chaired by Justice Afia Serwah Asare-Botwe, decided that two sureties must support the bail in order for it to be supported by Accra-based landed properties.
He is also required to appear before the police once a week until further notice. These strict requirements are a reflection of the seriousness of the accusations made against him as well as the public’s interest in the case.
The court also scheduled a case management conference for June 10, 2025, where pre-trial timelines will be determined. The outcome of this high-profile trial will be decided at this conference.
Renowned scholar and former Education Minister Professor Ameyaw-Akumfi has entered a not guilty plea to all of the charges. Among the accusations are deliberate misappropriation of public funds and willful financial loss to the state.
His attorneys promised the court that he would cooperate fully with the legal system and adhere to all bail requirements.
He is standing trial alongside Mr. Solomon Asamoah, the former Chief Executive Officer of GIIF, who was also granted bail earlier and is reportedly in compliance with all court directives.
His arraignment on four criminal charges pertaining to the contentious and ultimately abandoned Sky Train project, which resulted in a $2 million loss for the state, preceded this development.
The charges brought against the two men stem from a 2019 financial transaction in which $2 million of public funds, held by the GIIF, was disbursed to Africa Investor Holdings Limited.
The funds were intended as part of a proposed urban Sky Train system in Accra—a bold infrastructural vision that never progressed beyond the initial concept.
The state, through the Attorney-General and the Ministry of Justice, filed a charge sheet on May 13, 2025, detailing a total of six criminal counts against the accused.
These include conspiracy to wilfully cause financial loss to the Republic, wilfully causing financial loss, conspiracy to intentionally dissipate public funds, and intentional dissipation of public funds.
According to the prosecution, the accused persons conspired in February 2019 to approve and disburse the $2 million to Africa Investor Holdings Limited without proper authorisation or adequate due diligence.
Prosecutors argue that the decision to authorise the payment lacked legal and procedural safeguards, effectively putting the nation’s funds at risk without a corresponding return on investment.
The Controversial Sky Train Project
The Sky Train project, which was heavily publicised at its inception, was presented as a transformative urban transport solution aimed at decongesting Accra.
However, the initiative quickly unravelled amid questions about feasibility, transparency, and the lack of any tangible progress long after the initial funding was released.
Despite the fanfare, not a single pillar was erected, and the promised infrastructure never materialised.
By taking legal action against the guilty, the government hopes to hold those involved accountable and recoup public funds that were lost in what many have called a flagrant case of administrative negligence and potential political favoritism.
The case has generated a lot of public interest, and many Ghanaians are curious to see if the legal system will hold well-known people accountable while upholding the rule of law.
The Attorney-General’s larger anti-corruption campaign, which has seen a rise in prosecutions involving key public officials of the erstwhile NPP administration, includes the legal actions taken against Professor Ameyaw-Akumfi and Mr. Asamoah.
