Professor Christopher Ameyaw-Akumfi, former Chairman of the Ghana Infrastructure Investment Fund (GIIF), has been released on bail after being detained for questioning over his alleged role in the controversial $2 million Accra Sky Train project, his lawyer confirmed Tuesday.
The arrest, part of a widening probe into financial mismanagement, has reignited scrutiny over Ghana’s accountability mechanisms for high-stakes public projects.
Ameyaw-Akumfi, a prominent academic and public official, was taken into custody Sunday morning by operatives of the National Intelligence Bureau (NIB) at his residence. His lawyer, Ken Kuranchie, told ChannelOne TV that the legal team secured his client’s release “within the bounds of due process,” though investigations into the stalled infrastructure deal remain active.
The detention centers on a 2021 Auditor-General’s report that flagged irregularities in a $2 million payment to Africa Investor Holdings, a South African firm contracted to develop the Accra Sky Train. The ambitious urban rail project, launched in 2017 with fanfare, collapsed without laying a single track, leaving taxpayers to foot the bill. Auditors revealed that GIIF, under Ameyaw-Akumfi’s leadership, authorized the disbursement despite the project’s Special Purpose Vehicle (SPV) lacking an operational license—a breach of procurement protocols.
“This isn’t just about missing millions—it’s about systemic failures,” said governance expert Dr. Emelia Arthur. “When oversight bodies like Parliament and the Auditor-General raise red flags, citizens deserve answers, not years of silence.”
The Sky Train debacle has long been a lightning rod for criticism. In July 2023, lawmakers from the Minority in Parliament demanded a forensic audit, slamming the allocation of funds without feasibility studies or parliamentary approval. “Why was $2 million released for a project that existed only on paper?” Minority Leader Cassiel Ato Forson questioned at the time.
While Ameyaw-Akumfi’s release tempers immediate legal pressure, the case underscores lingering questions about accountability in Ghana’s infrastructure sector. Analysts note that the Sky Train is one of several high-profile projects—including the failed $510 million Kelni GVG contract—to draw allegations of financial impropriety.
The GIIF, established to leverage private capital for national development, now faces reputational damage. Critics argue the fund’s opaque decision-making processes enable such controversies. “Public infrastructure funds must prioritize transparency over speed,” asserted anti-corruption advocate Bright Simons. “Without it, trust erodes, and investors flee.”
As the probe continues, all eyes are on state prosecutors. While no charges have been filed, the case tests President Nana Akufo-Addo’s oft-repeated pledge to combat graft. For Ghanaians, the Sky Train saga is a stark reminder: grand promises require grounded accountability—or risk derailing public faith altogether.
