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Eyowo Bank Owner, Softcom, Lays Off 10% Of Staff And Owes Salaries

According to an independent report by Olumuyiwa Olowogboyega, published on Notadeepdive, Softcom, a Nigerian software company that owns the fintech Eyowo, is owing its staff salaries and has laid off 10% of them.

Olowogboyega mentioned three sources close to the matter that the company has been owning salaries for sometime. And, it is not just a one-off occurrence. In December 2021, the same issue reared its head at the time and the company only addressed the problem 25 days after the due date, and only paid a fraction of the staff portions of their salaries.

Then, by the second week of January 2022, Softcom was able to settle everyone it was owing and by the next month, things were looking good again. However, the same thing is repeating itself again.

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This time, Softcom is said to have fired at least 20 of its 200 employees. It is not clear if the employees that lost their jobs were paid but at the time, the company was owing November salaries. The remaining staff are working in a limbo as they are yet to receive a message from the company’s head on what is happening.

Softcom women
Softcom female employees. Image source: Punch Newspapers.

The sources that Olowogboyega mentioned in his report said that they had been told of a meeting with the CEO but the date passed without anything happening. Softcom and Eyowo are yet to respond to the story, but it is gaining traction online because many young Nigerians viewed the IT services company as the promised land after testimonies of staff in the past about Dubai retreats as part of their employment package.

Besides the online banking services it offers through Eyowo, Softcom also has an online selling platform called Kwiksell, a platform for creating and authenticating IDs for guests called Usepass, and a form generator called Useforms.

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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.