Nyantakyi was captured in a yet-to-be premiered investigative work of renowned journalist Anas Armeyaw Anas using the name of the of the Ghana president Nana Addo Dankwa Akufo Addo to allegedly defraud investors.
The FIFA Council member and CAF 1st vice president has since been cross-examined by the Criminal Investigations Department of the Ghana Police Service.
Tamakloe believes it will be in the interest of Nyantakyi to resign to save his battered reputation.
''I am not saying he is guilty of anything, but in the wake of the allegations his image has been bruised and battered almost beyond repair. He needs to clear his name to attain the moral authority to run Ghana football again,'' he told the Graphic Sports.
''He was duly elected and any process to oust him must follow laid down procedure. That he has been accused of compromising his position as GFA president must not necessarily strip him of his office.
''The question of stepping aside is a moral one only a few, especially in Ghana, are able to surmount.''
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