The Lagos State Inland Revenue Service (LIRS) is reportedly looking into allegations of financial impropriety at Bento Africa, a well-known payroll and human resources (HR) management company in Nigeria. The business is said to have caused large financial disparities and possible legal repercussions by neglecting to pay pension contributions and Pay-As-You-Earn (PAYE) taxes on behalf of its customers. Sultan Akintunde, a co-founder of AltSchool Africa, openly accused Bento Africa of misconduct, which sparked the dispute.
Akintunde claimed in a post dated January 24, 2025, that although Bento gathered large amounts from customers for tax purposes, it only sent little amounts to the LIRS. He said, “You [Bento] have been sending 100 Naira to LIRS while receiving millions from us. After sending ₦100, these individuals would obtain a receipt, then create a new one that matched the original amount they were supposed to send and submit it.
Consequent research showed that other businesses’ encounters with Bento Africa were comparable. Unremitted PAYE taxes and pension contributions totaling ₦43.8 million were reported by an anonymous company. This client claimed that Bento was in charge of paying taxes, pensions, and net salary. Salary payments were made on time, but other payments, such as taxes and pensions, were expected to be made within two weeks. The receipts for these payments were kept in a digital vault. Concerns regarding the company’s financial procedures were raised when these receipts and files were rendered inaccessible during a system upgrade in 2023.
Work Pillars CEO Matthew Ekeinde called his company’s encounter with Bento “harrowing.” After a few months of satisfactory service, he said, problems started to arise, including a ₦200,000 discrepancy that was only fixed after a major escalation. Ekeinde underlined the strain and difficulties in resolving these problems while drawing attention to a larger pattern of alleged financial mismanagement by Bento.
Significant public outrage has been generated by the accusations made against Bento Africa, particularly on social media. Similar worries over unremitted taxes and pensions have been echoed by other people who have shared their experiences. A common topic in these conversations has been the story of collecting large sums from customers while sending insignificant amounts to tax authorities.
Ebun Okunbanjo, the CEO of Bento Africa, has, however, responded to the accusations by denying any misconduct. He has called for proof to support the allegations and called them reckless. The criticism of Bento’s leadership has been leveled previously. Following allegations of a poisonous workplace culture, the board of the corporation directed Okunbanjo to abstain from all decisions pertaining to people in March 2022. An internal investigation into the company’s workplace culture was started, and co-founder Chidozie Okonkwo was assigned to manage personnel-related issues.
According to reports, the LIRS has started looking into the financial operations of Bento Africa. The business may be subject to harsh sanctions, such as fines and legal action, if the accusations are proven true. Furthermore, Bento Africa’s clients can be held accountable for unpaid taxes and unremitted pension contributions, which could place these companies in a difficult financial situation and harm their reputation.
The current circumstances surrounding Bento Africa highlight how critical it is to do due research when choosing third-party service providers, particularly those engaged in delicate financial activities. It is recommended that companies conduct routine audits of their service providers, guarantee financial transactions are transparent, and keep lines of communication open in order to quickly resolve any inconsistencies.
All in all, the case serves as a warning to businesses to be watchful of their financial management procedures as the Bento Africa investigation proceeds. In addition to being required by law, ensuring adherence to tax and pension standards is essential to upholding honesty and confidence in corporate operations.
