A High Court has granted bail to the former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), Professor Christopher Ameyaw-Akumfi, in the amount of GH¢10 million with two sureties, both of whom must justify the bail with landed property located in the Greater Accra Region.
As part of his bail conditions, Prof. Ameyaw-Akumfi is required to surrender his passport and all travel documents to the court. He must also report weekly to the case investigator.
The court has adjourned proceedings to June 10 at 9:00 a.m.
Prof. Ameyaw-Akumfi, who previously missed two court sessions due to reported medical emergencies, pleaded not guilty earlier today to charges including wilfully causing financial loss to the state, intentional dissipation of public funds, and conspiracy to commit a crime.
He is standing trial alongside Solomon Asamoah, the former Chief Executive Officer of GIIF. The two are accused of authorising the transfer of $2 million in public funds to a private account held by Africa Investor Holdings.
The funds were reportedly intended for a proposed Sky Train project, but prosecutors allege the transaction lacked proper authorisation and due diligence.
The prosecution argues that the deal, carried out during their leadership at GIIF, breached established legal and administrative procedures, resulting in a significant financial loss to the state.
Both defendants maintain their innocence and are expected to present a full defence as the case unfolds.
, Professor Christopher Ameyaw-Akumfi, in the amount of GH¢10 million with two sureties, both of whom must justify the bail with landed property located in the Greater Accra Region.){kind=link}