Asiamah said the decision had been a hard one to take, and is aware that it is likely to trigger some sort of action from world football's governing body FIFA, who strictly forbid the interference of government in the national federations.
"It stemmed out of the controversies generated by investigative report of Tiger Eye PI", he added.
In When Greed and Corruption Become the Norm aired by BBC's Africa News, the journalist exposes some of Ghana's football insiders, releasing footage of officials and referees accepting cash bribes before games, which is explicitly against both FIFA and Ghana Football Association's (GFA) rules.
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.
After watching parts of the documentary last month, Ghana President Nana Akufo-Addo asked police to investigate Nyantakyi, and the soccer official was arrested.
The film's revelations have also led to Mr Nyantakyi being put under investigation for fraudulently using Ghana's President Nana Akufo-Addo's name - by order of the president himself. "The league is suspended until further notice as well as all activities and all programs of the Ghana Football Association".
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The scenes in the documentary shown in the 6 000-capacity auditorium of the Accra International Conference Centre drew intermittent uproar from the crowd, which included business leaders, the clergy, civil society leaders, diplomats and sport administrators.
"I am yet to recover from the shock".
It is not clear yet if the resignation will change government's position to overhaul football administration in Ghana.
"The GFA wishes to place on record that, there will be no attempt of a cover-up or shield any of our members caught in alleged acts of corruption".
Football is Ghana's national sport and the revelations have sent shockwaves through the country, just under a week before the start of the World Cup finals in Russian Federation, for which they failed to qualify.