His apology follows a report that he used the name of the president to defraud some investors.
In a post on Facebook, the GFA capo said he regretted his actions which he describes as inappropriate and disrespectful.
Mr. Nyantakyi is currently being held at the CID Headquarters to assist in investigations.
You can read the full statement below…
I would like to express my deepest regrets and apologize for my actions.
It was inappropriate, disrespectful and the professionalism that you and my colleagues expect.
While I cannot alter what has transpired, I have taken steps to ensure that similar incidents and misunderstandings will not occur in the future.
I value our professional relationship and firmly believe that our teamwork will continue to produce solid work that will benefit the GFA and Ghana as a whole.