The Ghana Revenue Authority (GRA) has officially addressed circulating reports about the alleged freezing of assets belonging to prominent businessman Richard Nii Armah Quaye, the founder of Bills Microcredit.
The speculation emerged in the aftermath of his lavish 40th birthday celebration, which took place at Accra’s Independence Square on March 22, 2025.
The grand event was nothing short of spectacular, drawing attention not only for its scale but also for the star-studded lineup of performers.
Independence Square was transformed into a luxurious entertainment hub, featuring some of Africa’s biggest music icons.
Nigerian megastar Davido, Tanzanian hitmaker Diamond Platnumz, and Ghana’s own Sarkodie, Stonebwoy, KiDi, and Efya delivered thrilling performances, making it one of the most talked-about gatherings in recent times.
However, following the extravagant celebration, reports began to surface suggesting that Richard Quaye was under investigation by the GRA, with claims that his assets had been frozen due to tax-related issues.
The speculation quickly spread, leading to widespread discussions about tax compliance and financial accountability in Ghana.
In response to these claims, the GRA has now issued an official statement clarifying the situation.
While confirming that a tax assessment of GH₵30 million has been issued against Quaye, the authority dismissed reports that his bank accounts or other assets had been frozen.
The statement emphasized that such enforcement measures, including account freezes or asset garnishment, are only implemented when a taxpayer fails to cooperate with the assessment process.
The GRA further highlighted that it follows a structured and transparent approach in handling tax matters. It reiterated that compliance is expected from all businesses and individuals, but no drastic enforcement action has been taken against Quaye at this stage.
Despite the GRA’s clarification, the controversy surrounding Richard Quaye’s financial dealings continues to fuel conversations, especially given the sheer opulence of his birthday celebration.
Many are now watching closely to see whether he will comply with the tax assessment or if further action will be taken.
