The Financial Intelligence Centre (FIC) has frozen all accounts belonging to Mr. Richard Nii Armah Quaye, businessman and founder of Bills Micro-Credit.
The frozen accounts include Bills Micro-Credit, Quick Credit and Investment Micro-Credit, as well as an account of Romeo-Richlove Kweku Seshie, Chief Executive Officer of Bills Micro-Credit.
The FIC stated in a letter that its actions are in line with Section 56(1) of the Anti-Money Laundering Act, 2020 (Act 1044)
The freeze applies to all accounts linked to the named individuals, pending further instructions.
The FIC is the National Centre for receiving and analyzing suspicious transaction reports related to Money Laundering, Terrorist Financing, and Proliferation Financing (ML/TF&P), and providing actionable intelligence to relevant authorities.
The development follows a statement from the Ghana Revenue Authority, which revealed that Nii Armah Quaye was undergoing a personal income tax assessment for over GHS 30 million in unpaid taxes.
The freeze is part of routine regulatory oversight to ensure compliance with tax obligations.
Source: GNA
