Richard Nii Armah-Quaye Regains Access to his Bank Accounts as FIC Finds No Evidence of Financial Misconduct

The Financial Intelligence Centre (FIC) has officially cleared Ghanaian businessman Richard Nii Armah-Quaye of any wrongdoing after a detailed investigation into his financial transactions.

Mr. Armah-Quaye’s accounts were previously frozen as part of a broader inter-agency probe into alleged financial irregularities. However, following months of scrutiny, the FIC has unfrozen his accounts, restoring his full access to funds.

Speaking in an interview with GHOne TV on October 29, 2025, the CEO of the FIC, Kwadwo Twum Boafo, confirmed that the investigation found no evidence of criminal activity or financial misconduct.

“The accounts of Richard Nii Armah-Quaye were frozen, but they have been unfrozen now because there was no need for it to go forward,” Twum Boafo said. “He came here, explained what he does, and there was no problem. We deal with people fairly — there’s no personal vendetta against anyone.”

The FIC boss emphasized that the Centre’s operations are guided strictly by evidence and due process, not political influence. He added that the agency’s role is to protect Ghana’s financial system from abuse, not to persecute individuals or businesses.

This development underscores Ghana’s ongoing efforts to strengthen its anti-money laundering framework while ensuring fairness and transparency in financial investigations.