The former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), Professor Ameyaw-Akumfi, has pleaded not guilty to charges of causing financial loss to the state, intentional dissipation of public funds, and conspiracy to commit crime.
His plea was entered on Monday, May 26, 2025, after he failed to appear before the court on two earlier occasions, citing medical emergencies.
Prof. Ameyaw-Akumfi is standing trial alongside Solomon Asamoah, the former Chief Executive Officer of GIIF.
The two are accused of overseeing the unauthorised transfer of $2 million of state funds to Africa Investor Holdings, a private company.
The funds were reportedly allocated for a proposed Sky Train project, but prosecutors argue the transaction was executed without proper authorisation or due diligence.
According to the prosecution, the deal flouted both legal and administrative protocols, leading to a significant financial loss to the state.
Both men have denied any wrongdoing and are expected to present their defence as the trial progresses.
The Sky Train initiative, once touted as a transformative urban transport project, has come under intense scrutiny over questions surrounding its financial viability and transparency.
