The adjudicatory chamber of FIFA found Nyantakyi guilty of violating Article 19 (conflict of interest), Article 21 (bribery and corruption) and Article 22 (commission) of the FIFA code of ethics.
The former FIFA council was on June 8 suspended from football-related activities while under investigation for taking cash gifts.
A television documentary showed the former vice-president of Confederation of African Federation (CAF) receiving $65,000 in cash from undercover reporters posing as businessmen.
Apart from being banned for life from all football-related activities, Nyantakyi was also fined CHF 500,000.
The decision which has been communicated to Nyantakyi takes effect immediately.
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