The former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), Professor Christopher Ameyaw-Akumfi, has been granted bail in the sum of GH¢10 million by an Accra High Court.
The bail comes with two sureties, who must justify the amount with landed property located within the Greater Accra Region.
As part of the bail conditions, Prof. Ameyaw-Akumfi has been ordered to deposit his passport and all travel documents with the court and report weekly to the lead investigator handling the case.
The trial has been adjourned to June 10, 2025, at 9:00 a.m.
Prof. Ameyaw-Akumfi, a former minister and respected academic, pleaded not guilty to charges of wilfully causing financial loss to the state, intentional dissipation of public funds, and conspiracy to commit crime.
His plea was formally entered on Monday, May 26, following two earlier absences from court attributed to medical emergencies.
He is standing trial alongside Solomon Asamoah, a former CEO of GIIF, over the controversial transfer of $2 million in public funds to Africa Investor Holdings, a private entity.
The money was allegedly allocated for the construction of a proposed Sky Train project.
Prosecutors argue that the transfer was executed without the required authorisation or due diligence, in breach of legal and administrative procedures.
The state maintains that the action resulted in significant financial loss.
Both accused persons have denied any wrongdoing and are expected to mount a robust defence as the case continues.
