The Ghana Revenue Authority (GRA) has said it did not freeze bank accounts of Richard Nii Armah Quaye, the founder of Bills Micro Credit Ltd.

This comes on the back of reports that the authority had taken enforcement action against Mr. Quaye.

In a press statement issued on Thursday, March 27, 2025, the GRA clarified that while a tax assessment of GH₵30 million has been raised against Quaye, no enforcement action, including the freezing of his accounts, has been taken.

“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 said.

The GRA urged the public to disregard the false reports and assured that it follows due process when dealing with tax assessments. The authority explained that enforcement actions, including account garnishments, only occur when taxpayers refuse to cooperate after assessments have been raised.

Additionally, the GRA encouraged all eligible taxpayers to voluntarily disclose their incomes and fulfill their tax obligations to avoid penalties, interest, and other legal consequences.

Meanwhile, the authority has reaffirmed its commitment to fairness, integrity, and transparency in tax administration and assured the public of its adherence to due process in all matters related to tax compliance.

Background

Mr Quaye recently celebrated his 40th birthday in grand style at the Black Star Square in Accra, with a star-studded event attended by top local and international dignitaries, business elites, and entertainment heavyweights.

The extravagant celebration dubbed #RNAQ40 brought together some of Ghana’s most influential personalities, including Dr Osei Kwame Despite and Dr Ernest Ofori Sarpong, whose presence underscored the celebrant’s deep ties to the country’s business and social elite.

Also in attendance were government officials, industry leaders, and high-profile figures from the international business community, all gathering to honour Mr Quaye’s remarkable journey and achievements over the years.

Nigeria's Davido and Ghana's Sarkodie delivered a thrilling performance, while Stonebwoy’s Afro-dancehall energy kept the audience on their feet.