A document containing a sentence stating that former Chief Executive Officer (CEO) of Ghana Infrastructure Investment Fund (GIIF), Solomon Asamoah, informed the Board that “following the approval by the board that the sum of $2 million be invested in the Skytrain project with GIIF as the anchor investor in return for a 10 per cent stake”, became the subject of cross-examination when the case was called for hearing today (Feb 9, 2026).
Solomon Asamoah and Prof. Christopher Ameyaw-Akumfi, a former Board Chairman of GIIF have been accused of conspiring to cause financial loss of $2 million for building the skytrain system which was never built.
A former Board Member of GIIF, Yaw Odame-Darkwa, who is the first prosecution witness, had testified in his evidence-in-chief that the project never received board approval.
Approval
Taking his turn to cross-examine the witness, counsel for Prof Ameyaw-Akumfi, Yaw Acheampong Boafo, sought to make a case that the Finance Officers of GIIF, who disbursed the $ 2 million, could not have acted without approval of the Board, but the witness insisted that there was no board approval.
In furtherance of that, counsel asked the witness, “It is not correct that the whole Finance Department of GIIF will proceed to disburse $2 million without the requisite documentation”.
Counsel then proceeded to ask the witness to read the document, which read, “Following the approval by the board that the sum of $2 million be invested in the Skytrain project with GIIF as the anchor investor in return for a 10 per cent stake”.
Responding to the sentence in the document, Odame-Darkwa, stressed that the statement was not a board approval, adding, “This is merely an update by the CEO on the SkyTrain project, because at the time, the project was still at the investment committee”.
Execution
Again, counsel suggested to the prosecution witness that paragraph 3 of another document indicated that it was a consortium of six companies that had the responsibility to finance the Accra Skytrain project.
The witness in his response said, “This is not the document that I will rely on to take an investment decision at the Board. We rely on investment memos to make or not to make an investment decision.
“And these questions and answers document came about when I think a newspaper reported that the SkyTrain project was to be undertaken, and then the board decided to come up with the Q & A to address it,” the prosecution witness stated.
The witness has been discharged, with a second prosecution witness scheduled to mount the witness box on Wednesday, February 11, 2026.
