The Financial Intelligence Centre has frozen all company accounts at Quick Credit and Investment Micro-Credit and Bills Micro-Credit.
According to new information, the CEO, Romeo-Richlove Kweku Seshie, and the company’s founder, Richard Nii Armah Quaye, have also frozen all of their personal accounts.
This follows Monday, March 24, when the Ghana Revenue Authority verified that Richard Nii Armah Quaye, creator of Bills Micro-Credit, was facing a personal income tax audit.
The evaluation concerns unpaid personal income tax of over GHS 30 million still outstanding.
The move is part of regular regulatory monitoring to guarantee the entrepreneur meets his tax responsibilities.
According to a Citinews source, one of his cars had an import duty earlier set at GHS 11.4 million; this issue has now been settled.
The tax officials’ evaluation comes only days after the widely reported 40th birthday celebration of the business entrepreneur, which went viral on social media.
However, it’s still unclear if the decision to investigate Richard Nii Armah Quaye came before or after the lavish party.
Bills Micro Credit Limited recently formally declared that its commercial activities are totally distinct from the personal financial transactions of its Board Chairman, Richard Nii Armah Quaye.
The firm underlined its independence as a legal entity and its lack of funding or support for Mr Quaye’s personal purchases or activities.
FIC Freezes The Personal And Business Accounts Of Bills Micro-Credit’s Founder And CEO
