Joana Quaye
The legal battle between Joana Quaye and her beleaguered ex-husband, Richard Nii Armah Quaye, also known as RNAQ, has taken another twist as the woman has sued the businessman and his company, Bills Micro-Credit for allegedly fraudulently transferring her 10% shares in the company to Kobbina Awuah, a partner of RNAQ.
Madam Quaye, in a June 10, 2026 suit filed by her lawyers, Dame & Partners, is seeking 14 reliefs, including, a declaration that she is, and remains, the legal and beneficial owner of 10% of all the issued shares of Bills Micro-Credit Limited.
She also wants the court to declare that the purported transfer of her shares in Bills Micro-Credit Limited by RNAQ to Kobbina Awuah is null, void, and of no effect.
She is seeking a further order directed at the Office of Registrar of Companies, a defendant in the case, to delete from its records the instrument of transfer of Joana Quaye’s shares in Bills Micro-Credit Limited fraudulently signed by RNAQ, as well as all entries in the records of the Office of the Registrar of Companies showing Kobbina Awuah as holder of any issued shares in Bills Micro-Credit Limited.
Joana Quaye is again seeking an order compelling RNAQ and Bills Micro-Credit to account to her for all profits made since the establishment of Bills Micro-Credit Limited from December 2011 to date of judgement, as well as an order compelling payment to her of her share of all profits made by Bills Micro-Credit Limited since its establishment in December 2011 to date of judgement.
Role In Establishment
Madam Quaye, in her statement of claim, avers that after she got married to RNAQ in 2011, they decided to form a company originally called Quick Credit and Investment Money Lending Company Limited.
She said the name of the company was subsequently unilaterally changed by RNAQ to Quick Credit and Investment Micro-Credit Company Limited and then to Bills Micro-Credit Limited.
Those changes effected by RNAQ, she said, “were unlawful, in violation of the Companies Act and in furtherance of an artful and fraudulent scheme to change the identity of the company formed and usurp the rights of the plaintiff.”
Joana Quaye further claimed that in addition to being a shareholder on record, whilst performing her duty as a loyal and responsible wife, she actively contributed to the growth of the business, particularly, in the area of pursuing debtors of the company for repayment of monies lent to them, which was the company’s core business, whilst in good faith entrusting the day to day running of the company to RNAQ, her then husband.
She contends that the shares held by her in the company are her personal property and could not be lost under any circumstance except in accordance with law.
She was therefore surprised when during divorce proceedings with her ex-husband at the High Court, RNAQ stated under cross-examination on March 13, 2024, that he had transferred her shares to a third party, Kobbina Awuah.
Madam Quaye claimed that her investigations, including records obtained by her from the Office of the Registrar of Companies, confirmed the fact that RNAQ had transferred her shares in the company to Kobbina Awuah.
She asserts that the actions taken by RNAQ are clearly fraudulent and unlawful as same were not supported by any resolution duly passed in accordance with the company laws of Ghana.
To support her allegation of fraud, Joana Quaye states that she has never agreed to a transfer of her shares to anybody, neither has she signed any instrument authorising a share transfer nor received any consideration for the purported transfer.
She said RNAQ, without any lawful authorisation by her, or excuse, made a false instrument by which he assigned her shares in the company to Kobbina Awuah.
She further argues that the purported alteration of the records of the company through the unlawful transfer of her shares and the unlawful entry of Kobbina Awuah as a shareholder occurred as a result of a fake deed of transfer made by RNAQ.
Through a similar scheme of fraudulent alteration of records and false entries, Joana Quaye claims that she has been unlawfully removed as a director of Bills Micro-Credit.
She states that at the incorporation of the company, together with RNAQ, they were the only directors of the company.
However, it came to light in the divorce proceedings that RNAQ had unlawfully altered the records of Bills Micro-Credit to delete her name as a director of the company.
Again, there has been no resolution of shareholders passed at a general meeting duly convened authorising her removal as a director. Neither has she ever resigned as a director.
Joana Quaye claims that the general conduct of RNAQ being the brain behind the atrocious violations of her rights as a shareholder and director of Bills Micro-Credit, and Kobbina Awuah being the dishonest beneficiary of the illegal actions, ought to be declared null, void and of no effect.
In respect of the directorship, she claims from the High Court an order expunging from the records the purported appointment of all directors of Bills Micro-Credit Limited, without her participation as a shareholder or without the convening of a general meeting of all members including herself.
She finally claims general damages against the defendants for the unlawful actions as well as damages for fraud against RNAQ.
BY Gibril Abdul Razak