The Ghana Revenue Authority (GRA) has denied reports that it has frozen the bank accounts of Richard Nii Armah Quaye, founder of Bills Micro Credit Ltd.

The clarification follows speculation that the tax authority had taken enforcement action against Mr. Quaye over tax-related matters.

In a press release issued on Thursday, March 27, 2025, the GRA stated that while a tax assessment of GH₵30 million had been issued against him, no enforcement measures, including account freezes, had been initiated.

“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 emphasized.

The GRA urged the public to disregard misinformation, assuring that it adheres strictly to due process in handling tax matters. It explained that enforcement actions, including garnishing accounts, are only undertaken when taxpayers fail to cooperate after an assessment has been made.

The authority also encouraged taxpayers to voluntarily declare their incomes and fulfill their tax obligations to avoid penalties, interest, or legal consequences.

Reaffirming its commitment to fairness, transparency, and integrity in tax administration, the GRA assured that it remains diligent in upholding due process in all compliance-related activities.Background

Mr. Quaye recently hosted a grand 40th birthday celebration at the Black Star Square in Accra, drawing high-profile personalities from the business and entertainment sectors.

The star-studded event, dubbed #RNAQ40, saw the presence of renowned business moguls such as Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong, underscoring his strong ties within Ghana’s business elite.

Dignitaries, government officials, and global industry leaders were also in attendance, celebrating his milestones and contributions over the years.

The night’s entertainment was headlined by performances from Nigerian superstar Davido and Ghanaian rap icon Sarkodie, while Stonebwoy’s Afro-dancehall vibes kept the audience on their feet.

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