Nigerian fintech giant Paystack has terminated the employment of its co‑founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct.
Olubi disclosed his dismissal in a blog post published over the weekend, stating that he was informed of the decision on Saturday, November 22, 2025.
According to him, the termination was communicated even before the company concluded its independent investigation into the allegations.
“Over the past few days, my name and reputation, built over years as co‑founder and technical leader at Paystack, have been called into question because of information circulating online. In response, the Board of Directors of Paystack placed me on suspension and initiated what was described as an ‘independent’ investigation,” Olubi wrote.
He added that he had remained silent during the investigation to avoid interference, expecting a fair and unbiased review.
“On Saturday, 22 November 2025, I was informed that my employment had been terminated. This decision was taken before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond,” he said.
Olubi insisted that the decision contravened Paystack’s internal policies and revealed that his legal team is reviewing the process.
“They will take the steps they consider appropriate, and I will not be commenting further on this matter at this time,” he concluded.
Allegations, Backlash, and Paystack’s Response
The controversy began in mid‑November after a social media post accused Olubi of abusive behaviour towards a colleague. The backlash prompted online users to resurface explicit tweets he posted between 2009 and 2013, sparking widespread criticism.
Many of the tweets contained sexually suggestive comments involving colleagues and minors. Olubi has since deactivated his X account.
Paystack confirmed his suspension shortly after the allegations gained traction, announcing the launch of an independent investigation.
“Paystack is aware of the allegations involving our co‑founder, Ezra Olubi. We take matters of this nature extremely seriously. Effective immediately, Ezra has been suspended from all duties and responsibilities pending the outcome of a formal investigation,” the company said in a statement.
However, Olubi argued in his blog post titled Terminated that he was dismissed while the investigation was still ongoing and without an opportunity to defend himself.
“I was not given a meeting or an opportunity to respond before my contract was ended,” he wrote, adding that the silence during the investigation allowed “assumptions and misrepresentations to spread without challenge.”
Founded in 2015 by Olubi and Shola Akinlade, Paystack quickly rose to prominence as a leading African payments company.
It became the first Nigerian startup accepted into Y Combinator in 2016 and was acquired by Stripe in 2020 for more than $200 million.
The case has drawn attention to workplace romance in Nigeria’s tech sector, with analysts noting that Paystack’s handling of the allegations will likely set a precedent for how African startups address misconduct claims involving senior executives.
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