The Ghana Revenue Authority (GRA) has officially addressed reports of freezing the assets of business mogul Richard Nii Armah Quaye, founder of Bills Microcredit, following his extravagant 40th birthday celebration at Accra’s Independence Square.
The event, held on March 22, 2025, turned heads due to its sheer opulence, featuring performances from top Ghanaian and Nigerian celebrities.
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On the night, the Independence Square was transformed into a luxury playground, attracting some of the biggest names in African entertainment.
Nigerian superstar Davido, Tanzanian sensation Diamond Platnumz, and Ghanaian heavyweights Sarkodie, Stonebwoy, KiDi, and Efya graced the event with electrifying performances.
After the party, some reports emerged that he was being investigated by the GRA and that all his assets were frozen.
In response to the widespread rumors, the GRA has issued a statement clarifying its stance on the matter.
The tax authority acknowledged issuing a GH₵30 million tax assessment on Quaye but denied that it had taken enforcement actions such as freezing his bank accounts—at least not yet.
According to the GRA, freezing accounts or garnishing assets only occurs when a taxpayer fails to cooperate after an assessment has been raised.
The GRA also emphasized that it follows a standard process in dealing with tax compliance.
