Paystack has dismissed its co-founder and Chief Technology Officer, Ezra Olubi, days after suspending him over sexual misconduct allegations circulating on social media. The move comes despite the company previously announcing a formal investigation into the claims and stating it would not comment further until the process was concluded.
The development began on Thursday, when Paystack said Mr Olubi had been suspended from all duties and responsibilities pending a full investigation. The company announced that its Board had initiated a review process and would appoint an independent third-party investigator. Mr Olubi revealed on Saturday, 22 November 2025, that his employment was terminated before the investigation was completed.
“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 initially stated. It added that no further comment would be made “to protect the integrity of the process.”
Following his suspension, several old tweets by Mr Olubi resurfaced online, including a 2011 post that read: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
In a public statement titled “SHIT EZRA SAYS Terminated”, Mr Olubi criticised the manner of his dismissal, saying the process violated Paystack’s internal procedures.
“Over the past few days, my name and reputation, built over years as cofounder and technical leader at Paystack, have been called into question because of information circulating online,” he wrote.
He said he stayed silent to avoid interfering with the investigation:
“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 to the issues raised, in clear contravention of the terms of the suspension and Paystack’s own internal policies.”
Mr Olubi said he engaged in the process in good faith and that his legal team is now reviewing the circumstances surrounding the termination.
“My legal team is now reviewing the process that led to my purported termination, including its consistency with internal policies. They will take the steps they consider appropriate, and I will not be commenting further on this matter at this time.”
Paystack, a Nigerian financial technology (fintech) company that provides online and offline payment solutions to businesses across Africa. founded in 2015 and acquired by Stripe in 2020, is one of Africa’s leading payment companies, processing transactions for thousands of businesses across Nigeria and other African markets. Mr Olubi, a software development veteran born in Ibadan in 1986, co-founded the company alongside Shola Akinlade and received the national honour of OON in 2022.
The fintech company has not issued an updated statement following the announcement of the termination. The specific details of the allegations have not been disclosed.
Ademide Adebayo
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