Claims that Richard Armah Quaye’s accounts were frozen are denied by GRA.
According to the Ghana Revenue Authority (GRA), Richard Nii Armah Quaye, the founder of Bills Micro Credit Ltd., did not have his bank accounts frozen.
This follows rumours that Mr. Quaye had become the target of enforcement action by the authorities.
The GRA explained in a news release on Thursday, March 27, 2025, that although Quaye has been subject to a GH₵30 million tax assessment, no enforcement measures, such as suspending his accounts, have been implemented.
“We have not started any enforcement action, such as freezing his bank accounts, but the Authority has issued an assessment on him regarding his income taxes,” the statement read.
The GRA promised to follow appropriate process when handling tax assessments and advised the public to ignore the bogus reports. The authority clarified that account garnishments and other enforcement measures only take place when taxpayers refuse to cooperate following the raising of assessments.
In order to prevent fines, interest, and other legal repercussions, the GRA also urged all qualified taxpayers to voluntarily reveal their incomes and pay their taxes.
In the meantime, the authority has promised the public that it will follow due process in all tax compliance-related situations and reaffirmed its dedication to justice, honesty, and openness in tax administration.
Background
At the Black Star Square in Accra, Mr. Quaye recently celebrated his 40th birthday in style. Top local and international dignitaries, business titans, and entertainment heavyweights attended the star-studded event.
Some of Ghana’s most prominent figures, like as Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong, attended the lavish party known as #RNAQ40, highlighting the celebrant’s close connections to the nation’s social and financial elite.
Government representatives, business titans, and prominent members of the global business community were also there to celebrate Mr. Quaye’s extraordinary career and accomplishments over the years.
Davido of Nigeria and Sarkodie of Ghana put on an exciting show, and Stonebwoy’s Afro-dancehall vigour kept the crowd moving.
