The Financial Intelligence Centre (FIC) has frozen all accounts associated with Richard Nii Armah Quaye, the founder of Bills Micro-Credit. This includes accounts linked to Bills Micro-Credit, Quick Credit and Investment Micro-Credit, as well as an account of Romeo-Richlove Kweku Seshie, the Chief Executive Officer of Bills Micro-Credit.
The action follows a letter from the FIC, in line with Section 56(1) of the Anti-Money Laundering Act, 2020 (Act 1044), and applies to all accounts connected to the named individuals, pending further instructions. The FIC’s role involves analyzing suspicious transactions related to money laundering, terrorist financing, and other financial crimes.
The move comes after a statement from the Ghana Revenue Authority revealing that Nii Armah Quaye is undergoing a personal income tax assessment for over GHS 30 million in unpaid taxes. This freeze is part of regular regulatory oversight to ensure compliance with tax obligations.
