The Financial Intelligence Centre (FIC) has frozen all company accounts of Bills Micro-Credit and Quick Credit and Investment Micro-Credit, along with the personal accounts of the companies’ founder, Richard Nii Armah Quaye, and CEO, Romeo-Richlove Kweku Seshie.
According to news sighted by Citi News the FIC issued the directive on March 21, 2025, and it took effect immediately, pending further instructions and information gathering.
The action follows confirmation from the Ghana Revenue Authority on March 24, 2025, that Quaye is undergoing a personal income tax assessment for an outstanding amount exceeding GHS 30 million.
Additionally, The FIC’s move is part of routine regulatory oversight to ensure Quaye complies with his tax obligations under Section 56(1) of the Anti-Money Laundering Act, 2020 (Act 1044).
