The Ghana Revenue Authority (GRA) has clarified that it has not frozen the bank accounts of Richard Nii Armah Quaye, founder of Bills Micro Credit Ltd.
This follows reports suggesting that the authority had taken enforcement action against him.
In a press statement issued on Thursday, March 27, 2025, the GRA explained that while a tax assessment of GH₵30 million has been raised against Quaye, no enforcement measures—such as freezing his accounts—have been implemented.
“The authority has issued an assessment on him relating to his income taxes, but we have not commenced any enforcement action such as freezing his bank accounts,” the statement read.
The GRA urged the public to disregard the false reports and emphasized that it adheres to due process in tax matters. It further clarified that enforcement actions, including account garnishments, are only taken when taxpayers fail to cooperate after an assessment has been raised.
The authority also encouraged all eligible taxpayers to voluntarily disclose their incomes and fulfill their tax obligations to avoid penalties, interest, and legal consequences.
Meanwhile, the GRA reaffirmed its commitment to fairness, integrity, and transparency in tax administration, assuring the public that all compliance matters are handled in accordance with established procedures.
Background
Mr. Quaye recently marked his 40th birthday with a lavish celebration at the Black Star Square in Accra, drawing top local and international dignitaries, business elites, and entertainment figures.
The extravagant event, dubbed #RNAQ40, was attended by some of Ghana’s most influential personalities, including Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong, underscoring Quaye’s strong ties to the nation’s business and social circles.
Also present were government officials, industry leaders, and prominent figures from the international business community, all gathered to celebrate his achievements over the years.
The event featured electrifying performances from Nigeria’s Davido and Ghana’s Sarkodie, while Stonebwoy’s Afro-dancehall energy kept the audience engaged throughout the night.
