King of Lavish Parties: Parked Accounts Freeze Mutes Party King

Richard Nii Armarh Quaye, famed for hosting Ghana’s grandest birthday bashes, faces a financial clampdown today as regulators freeze his empire’s coffers. The Financial Intelligence Centre (FIC) has targeted the wallets of Bills Micro-Credit Limited and Quick Credit and Investments Micro-Credit, both under Quaye’s belt.
The relentless action doesn’t stop there — even Quaye’s personal funds and those of Bills Micro Credit Limited’s CEO, Romeo-Richlove Kweku Sehie, find themselves under close watch.
It’s all down to the Ghana Revenue Authority (GRA) wanting their slice of outstanding tax pie from Quaye. The total amount is shrouded in secrecy, but the freezing spree is a routine drill to ensure Quaye stays in the taxman’s good books.
The government’s directive, detailed in a confidential missive dated March 21, pulls no punches. Section 56(1) of the Anti-Money Laundering Act, 2020 (Act 1044) commands an immediate cease-fire on all accounts tied to Quaye and his entourage.
Moreover, banks are ordered to lock down the company’s financial chests pronto or face the music. They must furnish authorities with a heaving load of info post-haste or face consequences.
Trouble brewed after Quaye’s 40th birthday bash at Accra’s Independence Square stole the spotlight. An event dubbed RNAQ40, the soirée attracted A-listers like Sarkodie, Stonebwoy, Davido, and Diamond Platinumz from afar.
Despite the allure of the pomp and circumstance, Quaye’s wish to party has come at a lofty price. Bills Micro Credit Limited is quick to stress their separation from his opulent lifestyle, asserting independence from Quaye’s personal whims.