By: Franklin ASARE-DONKOH
The embattled Ex-Chief Executive Officer (CEO) of the Ghana Infrastructure Investment Fund (GIIF), Mr. Solomon Asamoah, is still in custody for failing to meet bail conditions imposed a week ago.
The Ex-CEO of GIIF is standing trial alongside the former Board Chair of the fund, Prof. Christopher Ameyaw-Akumfi, on charges of willfully causing financial loss to the state and the dissipation of public funds.
The two are accused of authorising the transfer of two million United States Dollars ($2M) in public funds from GIIF accounts to Africa Investor Holdings, a company contracted to build and operate the proposed Sky Train project which never saw the day of light.
According to state prosecutors, the transfer was made without proper authorisation and also there was no work done to justify the $2M payment.
At the initial court appearance on May 13, Mr. Asamoah pleaded not guilty to the charges and was granted bail condition of GH¢15 million, with two sureties, both required to justify their bail with landed property located in Accra.
However, during proceedings on Tuesday, May 20, 2025 it came to the fore that the immediate past CEO of GIIF is yet to meet those bail conditions and therefore remains in police custody.
Meanwhile, Prof. Ameyaw-Akumfi, who was absent during the initial arraignment due to medical reasons, was once again absent in court on Tuesday, May 20, 2025.
His lawyer, Duke Aaron Sasu, informed the court presided over by Justice Comfort Tasiame, that the former board chair was rushed to the hospital early morning on Tuesday, May 20, 2025.
Meanwhile, Justice Tasiame has expressed worry over the timing of Prof. Ameyaw-Akumfi’s recurring medical emergencies, which appear to coincide with scheduled court dates.
But the lawyer for Prof. Ameyaw-Akumfi assured the presiding judge that his client will be available for arraignment on Friday, May 23, 2025.
The state, represented by Deputy Attorney General Dr. Justice Srem-Sai, acknowledged the judge’s observation and noted that the prosecution may reconsider its approach regarding Prof. Ameyaw-Akumfi at the next hearing, which is scheduled to take place on Monday, May 26, at 10:00 a.m.
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