Founder of Bills Micro-Credit, Richard Nii Armah Quaye, is currently undergoing a personal income tax assessment by the Ghana Revenue Authority (GRA), Citi Business News has learnt.
The assessment pertains to outstanding personal income tax, which remains unsettled.
However, the exact amount involved has not yet been disclosed.
The action is part of routine regulatory oversight to ensure that the entrepreneur complies with his tax obligations.
According to official sources, his bank accounts have not been frozen, contrary to claims circulating on social media.
The assessment by the tax officials comes just days after the business magnate’s widely publicised 40th birthday event which gained traction on social media.
It is however unclear whether the decision to probe Richard Nii Armah Quaye was made before or after the lavish celebration.
Recently, Bills Micro Credit Limited formally clarified that its business operations are entirely separate from the personal financial dealings of its Board Chairman, Richard Nii Armah Quaye.
The company stressed that it operates as an independent legal entity and does not finance or support Mr. Quaye’s private purchases or events.
The statement further clarified that Richard Nii Armah Quaye does not hold the position of CEO at Bills Micro Credit Limited. .
This clarification came in response to recent public discourse linking the company to Mr. Quaye’s personal affairs, including his birthday celebrations.
While recognizing Mr. Quaye as its founder, chairman, and majority shareholder, the company firmly dismissed any financial ties to his personal expenses.
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