Richard Quaye: Bills Micro Credit Founder’s Accounts, Others Frozen By FIC After Birthday Bash

• The company accounts of Richard Nii-Armah Quaye's Bills Micro-Credit have reportedly been frozen
• The Financial Intelligence Centre froze the accounts of two other companies Quaye is linked with
• The businessman's personal accounts and that of an associate have also reportedly been frozen

The company accounts of Richard Nii-Armah Quaye's Bills Micro-Credit, Quick Credit and Investment Micro-Credit have been frozen by the Financial Intelligence Centre.

Citi News reported that Quaye's accounts and that of Bills' CEO, Romeo-Richlove Kweku Seshie, have also been frozen.

According to a letter referenced by Citi News, the directive was issued on March 21, 2025. Before these reports, there was speculation on March 24 that Quaye's accounts were frozen.

This comes after the Ghana Revenue Authority indicated that he was undergoing a personal income tax assessment. It was initially speculated that the Ghana Revenue Authority had frozen the businessman's accounts.

The assessment is part of routine regulatory oversight to ensure that the entrepreneur complies with his tax obligations. The Bugatti Chiron luxury car he recently purchased was one of the assets cited by reports.

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Bills Micro Credit denies financing Quaye privately

In a statement earlier, Bills stressed that its business operations were separate from the personal financial dealings of Quaye.

The company claimed it did not finance or support the founder's private purchases or events.

The statement further clarified that the businessman was not the CEO at Bills Micro Credit Limited.

A lot of people linked Quaye's lavish party with his companies but this has also been denied.

The businessman has spoken openly about the levels of wealth he claims to have accrued.

Quaye claimed to have invested in more than 30 Ghanaian companies including the popular fast-food chain Chickenman Pizzaman.

He also has links to the Pinkberry and Burger King franchises in Ghana.

When was Richard Quaye's lavish birthday party?

Quaye's 40th birthday party on March 22, 2025, was the object of fascination and criticism for many Ghanaians.

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The party was held at the Independence Square, featuring high-profile guests like the Ga Mantse and Nigerian singer Davido.

Some guests that dominated headlines included Tanzanian singer Diamond Platinumz, Sarkodie, Stonebwoy, Ramsey Nouah, Jim Iyke, Van Vicker, Ini Edo, and Rita Dominic.

During the party, Quaye's business partners and associates notably surprised him with three new luxury cars including a Toyota Land Cruiser 300 Series.

Cheddar cited for tax evasion

YEN.com.gh reported that the GRA cited Nana Kwame Bediako for tax evasion in the midst of his presidential bid in 2024.

At the time, the founder of The New Force political movement reportedly owed over GH¢7 million in taxes for 2021 and 2022.

For 2021 and 2022, Bediako was reportedly supposed to pay GH¢2,088,228 and GH¢5,096,536 respectively in government dues.

Bediako was trying to shake up Ghanaian politics as an independent candidate and vehemently denied all claims of tax evasion.

Source: YEN.com.gh