TigerEye PI investigators acting as investors proposed to GFA President to sponsor the Ghana Premier League.
Ghana's information minister Mustapha Abdul-Hamid said the government would dissolve the GFA because of the "widespread nature of the apparent rot".
Several match officials and football administrators, including the President of the Ghana Football Association have been captured on camera receiving monies when the Anas expose' was premiered on Wednesday.
Ghana Football Association President Kwesi Nyantakyi resigned from his post on Friday after he was implicated in a bribery exposé.
He said the government would soon announce provisional measures to govern football activities until a new association could be formed.
FIFA have given Nyantakyi a 90-day ban from all football related activities with immediate effect.
Guatemala rescues hampered as volcano continues to erupt
On Tuesday, strong explosions billowed ash up more than 5000 meters above sea level and the dust was blowing east and northeast. The couple has been staying at a Mormon church in the nearby city of Escuintla and going to a morgue there to await news.
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.
In the resignation letter signed by Nyantakyi, he issues an unreserved apology to all Ghanaians for the disappointment his indiscretion caused them but insists that it was not an admission of any wrongdoing.
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". Nyantakyi also has a role within FIFA's council, who are believed to be monitoring the situation.
He is already facing investigations from the Criminal Investigations Department of the Ghana Police Service after President Akufo-Addo filed a complaint after watching excerpts of Anas' video that the embattled FA President was using his name to lure foreign investors.
Specifically, Nyantakyi requested $5 million for Akufo-Addo, $3 million for Vice President Mahamudu Bawumia, $2 million for the roads minister, $1 million for a deputy roads minister and another $1 million for him and one of his aides.