Court Grants Bail to Former GIIF CEO Solomon Asamoah in $2m Sky Train Scandal

Accra, Ghana - 13 May, 2025 - The former CEO of the Ghana Infrastructure Investment Fund (GIIF), Solomon Asamoah, has been granted bail in a case involving the unauthorized transfer of $2 million to Africa Investor Holdings Limited for a Skytrain project.

Asamoah's bail was set at GHc15 million with two sureties required to justify their properties.

Asamoah and Prof. Christopher Ameyaw-Akumfi, the former Board Chair of GIIF, are accused of causing financial loss to the state by transferring funds without proper authorization or board approval. The payment was allegedly made for a project that did not materialize, and the accused failed to secure the agreed-upon shares for GIIF.

The court granted Asamoah bail with conditions, including reporting to investigators three times a week. Prof. Ameyaw-Akumfi was absent from the court proceedings due to surgery.

The case has been adjourned to May 20 for further hearing.

Source: Lead News Online