• About
  • Advertise
  • Careers
  • Contact Us
Saturday, June 28, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Business StartUPs

Contractors Laid Off Amidst Fraud Charges Against Tingo Mobile

by Joan Aimuengheuwa
February 5, 2024
in StartUPs
0
Contractors Laid Off Amidst Fraud Charges Against Tingo Mobile
Tingo Mobile

Tingo Mobile

UBA
Advertisements

Tingo Mobile, a fintech startup known for its social impact initiatives, has employees embroiled in a payment crisis amidst fraud charges leveled against the company in the United States. 

Forty employees, tasked with supporting new users and resolving issues on the TingoPay digital payments app, have been left perplexed after being laid off without receiving their salaries for December and January.

The contractors, who provided essential support to Tingo Mobile’s operations, were abruptly informed of their termination during a call with Tingo Mobile and HR Indexx (HRI) in the first week of February 2024. Despite their critical contributions, they were left struggling with financial uncertainty, compounded by the non-payment of their salaries.

According to reports, HR Indexx, the outsourcing company responsible for managing the contractors, attributed the salary delays to Tingo Mobile, citing an outstanding amount totaling millions. Expressing its inability to cover the salaries without prompt payment from Tingo Mobile, HR Indexx noted the financial strain faced by the affected contractors.

Despite mounting concerns and inquiries, HR Indexx refrained from providing immediate clarifications, further exacerbating the contractors’ plight. The disabling of comments in the WhatsApp group used for coordination effectively stifled avenues for grievances, leaving the contractors in a state of uncertainty and frustration.

During the layoff call, contractors recounted being advised by HRI to explore alternative skill sets and seek employment opportunities elsewhere — a directive that points to the severity of the situation and the uncertain future facing the affected individuals.

The unrest surrounding Tingo Mobile emanates from allegations of financial misconduct and deception, with the US Securities and Exchange Commission (SEC) accusing Tingo Group, the company’s parent entity, of fabricating financial statements and misleading investors. Tingo Mobile, a subsidiary of Tingo Group, found itself thrust into the spotlight following a scathing report by Hindenburg Group, an American short seller.

In response to the allegations, the SEC initiated a formal investigation into Tingo Group, leading to the suspension of trading in the shares of another subsidiary, Tingo Foods PLC. The unfolding crisis has cast a shadow over Tingo Mobile’s operations, leaving its contractors wrestling with uncertainty and financial instability amidst the backdrop of legal and regulatory scrutiny.

The fate of the affected contractors hangs in the balance, emphasizing the impact of corporate misdeed on individuals’ livelihoods and well-being within the fintech ecosystem.

Loading

Advertisements
MTN ADS

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: 2024 layoffsHR IndexxTingo Mobile
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
SIFAX Group Consortium meets LASG

SIFAX Group Consortium to Collaborate with FG, LASG on Aviation Development

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

#RHOLagos S3 - The Real Housewives of Lagos

#RHOLagos: The Real Housewives of Lagos Breaks First-day Streaming Record on Showmax

5 months ago
LG washing machine

LG Washing Machine: The Best Washing Performance for your Clothes

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.