Bento, a Nigerian fintech startup, has laid off its entire 10-person tech team after they protested the founder's decision to delay their January salaries. The layoffs came amidst allegations of tax fraud and pension non-payment, which the company has denied.

The controversy began when founder Ebun Okubanjo informed the tech team that their salaries would be "strategically delayed" until they processed all pending payroll for customers. The team, consisting primarily of young engineers in the early stages of their careers, refused to continue working without pay, leading Okubanjo to treat their protest as resignations and deactivate their work emails without compensation.

Okubanjo claimed that the delay was a strategic measure anticipating resignations due to the ongoing controversies. However, the affected employees expressed frustration and concern about the company's financial situation, with one ex-employee stating that they were worried about the impact on their careers.

The layoffs have stalled Bento's operations, particularly with payroll processing for its customers. The company, which had previously automated salary disbursements, has had to manually process payments since 2024 due to issues with payment processors and underfunded accounts. With the entire tech team gone, there is almost no one to run payroll, according to an employee.

In an email to customers, Bento claimed it intentionally halted transactions to facilitate a transfer of platform credentials from Okubanjo to an interim overseer. However, at least two investors told TechCabal they did not see the letter, casting doubt on the company's claims.

Okubanjo's apparent resignation on January 30 has been called into question, as he continued communicating with Bento employees on January 31. It is unclear if he addressed the issues with employees who became worried when he informed them their salaries would be delayed.

The allegations of tax fraud and pension non-payment have added to the uncertainty surrounding Bento's future. The company's now laid-off tech team is concerned about the impact on their careers, with one employee stating that they had taken the company off their LinkedIn profile for fear of reprisals.

The incident raises questions about the financial management and accountability of startups in the fintech industry. As the situation unfolds, it remains to be seen how Bento will address the allegations and operational disruptions, and what implications this will have for its customers and employees.