- The GRA denied freezing Richard Nii Armah Quaye’s bank accounts
- A GH₵30 million tax assessment was issued, but no enforcement actions were taken
- Quaye recently celebrated his 40th birthday with a high-profile event
The Ghana Revenue Authority (GRA) has clarified that it has not frozen the bank accounts of Richard Nii Armah Quaye, the founder of Bills Micro Credit Ltd., following reports suggesting enforcement action against him.
In a statement released on Thursday, March 27, 2025, the GRA explained that while a tax assessment of GH₵30 million has been issued for Quaye, no enforcement measures, such as freezing his bank accounts, have been taken.
“The GRA has issued a tax assessment for his income taxes, but no enforcement actions, including freezing his accounts, have been initiated,” the statement stated.
The GRA urged the public to disregard the false reports and reiterated its commitment to following due process in tax matters. It clarified that enforcement actions, including garnishment of accounts, only occur when taxpayers fail to cooperate after an assessment is raised.
The authority also encouraged eligible taxpayers to voluntarily report their income and meet their tax obligations to avoid penalties, interest, and legal consequences. Furthermore, the GRA reaffirmed its dedication to fairness, integrity, and transparency in tax administration, ensuring that all compliance matters follow established procedures.
Background
Mr. Quaye recently celebrated his 40th birthday with an extravagant event at the Black Star Square in Accra, attended by top local and international dignitaries, business leaders, and entertainment figures.
The lavish celebration, named #RNAQ40, saw influential personalities like Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong in attendance, highlighting Quaye’s strong connections in Ghana’s business and social circles.
Government officials, industry leaders, and international business figures also joined the festivities, celebrating his achievements. The event featured performances by Nigeria’s Davido, Ghana’s Sarkodie, and Stonebwoy, keeping the audience energized with Afro-dancehall music throughout the night.
