Former acting Board Secretary of the Ghana Infrastructure Investment Fund (GIIF), Kofi Boakye, has told the High Court in Accra that Solomon Asamoah incorporated a company called ‘Ghana Sky Train Limited’ on the “blind side” of the Board members to receive US$2 million from GIIF.
Mr. Boakye, who is testifying as the 2nd Prosecution Witness in the ongoing trial of two former state officials said to have misappropriated $2 million for the Sky Train Project, said he and the other board members did not know until they were confronted with it at the interrogation room of the National Intelligence Bureau (NIB).
Solomon Asamoah, the former GIIF Chief Executive Officer, and Prof. Christopher Ameyaw-Akumfi, a former Board Chairman of GIIF, have been charged for their role in the dissipation of the $2 million state funds over the Sky Train Project.
They have pleaded not guilty to a combined six counts, which comprised conspiracy, wilfully causing financial loss to the Republic, and intentional dissipation of public funds, and have been granted bail.
Under further cross-examination by lead Counsel for the 1st Accused Person (Solomon Asamoah), Victoria Barth, that he was aware of a concession agreement, an MOU, and other documents submitted to Board Members, the witness answered in the negative, saying, “That is not correct. I have not seen the concession agreement and the MOU at our meetings.”
He added, “I only saw an MOU signed by the CEO at the interrogation room of NIB.”
“And I must also state that it was also at the same venue that I saw a registration document on a company incorporated by the CEO on the blind side of all members of the Board, including the Board chairman! Apart from the CEO, none of us had any idea that a company by the name Accra Sky Train had been incorporated by the CEO,” he told the Court presided over by Justice Audrey Kocuvie-Tay on March 2, 2026.
Asked if he knew that the company he said was incorporated by the CEO on the blind side of the Board, its sole shareholder is Ai Sky Train Consortium Holdings, the witness explained to the Court.
“My Lady, on one Friday with all members of the Board and the CEO present in an interrogation room with investigators of the NIB, we were asked whether or not we knew anything about a company called Ghana Sky Train Limited.
“The investigators deferred the answering of this question to our next meeting day, which was the next Monday. On the said Monday, the question whether or not we knew of any company by the name Ghana Sky Train Limited was directed by the investigators at every member of the Board and the CEO,” PW2 told the Court.
“All members of the Board, including the Board Chair, told the investigators that they knew nothing about this company called Ghana Sky Train Company Limited. It was only the CEO who stated in the affirmative that he knew of the company known as Ghana Sky Train Limited.
“If my memory serves me right, from the MOU which I saw for the first time at the offices of NIB, Ghana Sky Train Limited was mentioned somewhere in there.
“When GIIF gives approval to participate in projects, in some instances, new companies are incorporated and used as vehicles for the implementation of those projects.
“At all times, the Board is informed and made aware of the incorporation of these companies, and copies are kept or filed by the Secretary of GIIF, who collaborates with the various lawyers contracted for these services.
“And furthermore, in any company that GIIF holds an equity stake, we ensure that a member of the Board is appointed to the Board of Directors of that company. “Nothing of this kind happened in respect of the Ghana Sky Train Limited or, for that matter, the Ai Sky Train Consortium Holdings, a company per exhibit 31 registered in Mauritius.
Revelation infuriated members
PW2 said, “Indeed, when this revelation that a company by the name Ghana Sky Train Limited had been incorporated was made at our meeting before the NIB, some members of the Board were extremely infuriated and annoyed that the CEO had incorporated this company with himself as a director and another person whom the CEO had recommended for approval as Secretary but was not successful, listed as the Secretary to the company by the name Ghana Sky Train Limited.
It was his case that, in the minutes of June 25, 2019 (exhibit 5, item 8.5), he read its content as follows: ‘The CEO informed members that he had been requested to serve as a board member of Cal Bank Ltd. Members expressed their no objection to the appointment and accordingly congratulated the CEO.’
However, he said, “Nothing of this kind and no such information by the CEO to the Board that he had been appointed as a director of Ghana Sky Train Limited was ever relayed or conveyed to the Board by the CEO.”
Source: Starrfm.com.gh
