However, Sports Minister, Isaac Asiama, said the association had been "dissolved with immediate effect".
Nyantakyi was accused in an explosive documentary called "Number 12", aired on Wednesday by investigative journalist Anas Aremeyaw Anas, of soliciting bribes amounting to several million dollars.
According to Kwesi Nyantakyi, who resigned as FA Boss on Friday, he was deceived by people who he thought were genuine and could actually invest in the country.
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He also felicitated his Chinese counterpart on the successful conduct of SCO Summit in China . The numbers have climbed further after the accession of India and Pakistan.
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.
"I hereby apologise unreservedly to the father of the Nation, H.E. Nana Akufo Addo, H.E. the Vice President, Dr. Mahamadu Bawumia, Hon".
Federation Internationale de Football Association said on Friday it was suspending Nyantakyi for 90 days.
"The Police Administration is assuring the public of due processes and encouraging persons with verifiable information to volunteer it to Police through the Financial Forensic Unit of the Criminal Investigations Department (CID) headquarters at Accra".
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A statement published by the GFA confirmed that the FIFA Council Member, who had earlier in the day been banned by FIFA from all football related activity for a provisional period of 90 days, made this decision after an Executive Committee meeting on Friday.
Abdul-Hamid said interim measures would soon be announced.
Nyanyakyi's resignation means the Ghana Football Association are now without a president and a vice president after George Afriyie was sacked from his post a month ago.
Football is by far the most popular sport in Ghana and while the national team, the Black Stars, failed to reach this year's World Cup finals, they were quarter-finalists in South Africa in 2010.
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The legislation would create a presidentially appointed commission to review the closure of underperforming VA facilities. He said that consolidating the multiple private care programs that exist now should control the new bill's costs.