A statement from the Ministry of Information said that the government is "shocked and outraged" by the contents of the investigations undertaken by journalist Anas Aremeyaw Anas.
The Ghanaian government has made a decision to dissolve the country's football association after claims, in an undercover documentary, of bribe-taking by referees and kickbacks to top officials.
In the said video, Nyantakyi was seen extorting monies from investors by using the name of the President.
The ban was imposed one day after the Ghanaian government dissolved the country's football association (GFA) after officials, including Mr Nyantakyi, were shown in a documentary allegedly taking kickbacks.
The FA has been caught up in a mess as the video - produced by renowned Ghanaian investigative journalist Anas Aremeyaw Anas and his Tiger Eye Private Investigations outfit - exposed corruption and match-fixing activities of top officials and referees.
My decision is as a result of deliberations I have had with family and my associates.
FIFA responded earlier on Friday by banning Nyantakyi from "all football-related activity" for 90 days pending an investigation with a possible further suspension of up to 45 days.
GFA president, Kwesi Nyantakyi was recorded by undercover reporters in a video describing how to make money from a proposed sponsorship deal from a supposed investor, who was actually an undercover reporter.
Abdul-Hamid said interim measures would soon be announced.
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.
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.
Ghana risks being suspended from the 2026 World Cup hosting vote next week, when it had been expected to vote for fellow African country Morocco against the joint bid of the United States, Canada and Mexico.