Bento Africa Dismisses Tech Team Amid Financial Turmoil

STARTUP VENTURE CAPITALFebruary 6, 2025 at 2:32 PM UTC

TLDR

Bento Africa, a Nigerian HR and payroll startup, terminated its 10-member tech team after they protested delayed January salaries
This move follows allegations that the company failed to remit taxes and pensions, and forged tax receipts
Founder Ebun Okubanjo resigned on January 30 but continued to communicate with staff

Bento Africa, a Nigerian HR and payroll startup, terminated its 10-member tech team after they protested delayed January salaries. This move follows allegations that the company failed to remit taxes and pensions, and forged tax receipts.

Founder Ebun Okubanjo resigned on January 30 but continued to communicate with staff. He described the salary delay as strategic, anticipating resignations due to ongoing controversies, TechCabal reported.

When employees halted work, Okubanjo deactivated their emails, treating the protest as resignations. The layoffs have stalled Bento's payroll operations, which had already faced manual processing issues due to payment processor challenges.

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Key Takeaways

Bento Africa is under investigation by the Lagos Inland Revenue Service (LIRS) and the Economic and Financial Crimes Commission (EFCC) for alleged tax and pension remittance failures. High-profile clients, including Moniepoint, Paystack, Kobo360, and Bamboo, have reportedly severed ties with the company. Former clients claim significant financial discrepancies; for instance, Fuelmetrics alleges ₦50 million in unpaid taxes and pensions due to Bento's mismanagement. These developments highlight the critical importance of compliance and transparency in Nigeria's burgeoning tech ecosystem.

Startups

Nigeria

Fintech

Bento Africa

Layoffs