The investigation, by controversial journalist Anas Aremayaw Anas, invited Mr Nyantakyi to a luxury hotel in the Middle East with the promise of meeting a wealthy businessman it said was interested in a sponsorship deal with the GFA.
He also boasted of his relationship with President Nana Addo Dankwa Akufo-Addo, suggesting the president and his vice, Dr Mahamudu Bawumia, were susceptible to bribery, and that the two could be influenced with $5 million and $3 million respectively. The Ghana Football Association issued a statement last month backing their president and saying he was innocent until proven guilty.
Federation Internationale de Football Association said on Friday it was suspending Nyantakyi for 90 days.
"I am yet to recover from the shock - It's a sad day for Ghana football and I believe there's an urgent need to clean up our football administration", 42-year old soccer enthusiast Michael Blagogee told Reuters as he exited the auditorium holding his head.
"As a result of the pervasive nature of the rot within GFA, government, therefore, has made a decision to investigate the conduct of all officials of the GFA, together with that of the suspended acting Director General of the National Sports Authority (NSA), Robert Sarfo-Mensah, shown in the documentary to be involved in questionable, potentially criminal acts, is, forthwith, referred to the police for further investigation and appropriate action".
What began on Thursday morning as protection from a possible violent reaction from the public to an investigative documentary on corruption in football has turned into a take over as over 30 armed police officers both plainclothed and uniformed invaded the GFA premises in Accra around 5pm on Friday.
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Barnier said that while some progress has been made, several issues remain to be resolved before the 28-29 June EU summit. Less than half of all people in Northern Ireland consider themselves British, according to a new survey.
However, Sports Minister, Isaac Asiama, said the association had been "dissolved with immediate effect".
"Government will soon announce provisional measures to govern football activity in the country until a new body is duly formed".
His decision to step down follows an investigation by journalist Anas Aremeyaw Anas, who secretly filmed Mr. Nyankakyi discussing plans to set aside 25 per cent of a proposed sponsorship deal to a company he owns in a documentary called "When Greed and Corruption Become the Norm".
Ghana's U-20 team also won a historic World Cup under his reign.
Ed Dove discusses what fans can expect from Nigeria at the 2018 World Cup in Russian Federation.