Prof. Christopher Ameyaw-Akumfi
The former Chief Executive Officer of Ghana Infrastructure Investment Fund (GIIF), Solomon Asamoah and the erstwhile Board Chairman of the Fund, Prof. Christopher Ameyaw-Akumfi, have asked a High Court in Accra to review the terms of their bail conditions.
The two have been charged for their alleged involvement in the dissipation of state funds in the non-existent $2 million Accra Skytrain project.
They have denied the charges against them, and the court presided over by Justice Comfort Tasiame has admitted them to bail and as part of the conditions, ordered them to report to the case investigator.
Prof. Ameyaw-Akumfi is on a GH¢10 million bail with two sureties who must be justified with landed property, and is to report to the case investigator once every week.
Mr. Asamoah, on the other hand, is on a bail of GH¢15 million with two sureties who must be justified, and is to report to the investigator every Monday, Wednesday and Friday.
However, their lawyers are pushing for a variation of the bail terms to exclude the accused persons from reporting to the case investigator.
The trial judge did not hear the oral applications and instead urged the lawyers to file their concerns so that the Office of the Attorney General can respond appropriately.
Meanwhile, Deputy Attorney General, Dr. Justice Srem-Sai has told the court that they intend to withdraw some of the witness statements they had already filed.
Although he did not give any reason for the withdrawal, the court has indicated that it will strike them out during case management conference.
The defence lawyers have also asked the court for ample time to examine what they describe as bulky disclosures filed by the prosecution, so that they can do effective case management.
“We’ve seen some of the witness statements that have been filed so far, and we think it is very bulky document. Counsel for the accused persons would have to go through those documents and if need be, request for further documents,” Edem Nuhoho, counsel for Prof. Ameyaw-Akumfi told the court.
The trial was therefore, adjourned to June 24, 2025, for case management.
Trial
The brief facts indicate that the Accra Skytrain project was to be constructed on a Design, Build, Finance, and Operate basis.
“In the memorandum of understanding, GIIF was to be the anchor equity investor and local project development partner to the Africa Investor Holdings (Proprietary) Limited. It was further agreed in the memorandum of understanding that GIIF would conduct due diligence and develop a bankable feasibility study on the project.”
A shareholder agreement was subsequently signed on January 9, 2019 between GIIF and Africa Investor Holdings Limited where the later was to transfer 10% of its alleged 100% shares in a company styled as ‘Ai Skytrain Consortium Holdings,’ a limited liability company registered in Mauritius.
Upon their arrest, Solomon Asamoah is said to have indicated in his cautioned statement that he obtained approval of GIIF board in respect of the payment, while Prof. Ameyaw-Akumfi told investigators he signed the funds transfer on the recommendation of Mr. Asamoah.
The facts added that neither of the accused persons have been able to account for the $2 million.
BY Gibril Abdul Razak