Paystack, the Nigerian fintech firm, has terminated the contract of its co-founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct.
Olubi revealed the development on his personal blog on 23 November 2025, claiming the dismissal was premature and occurred before the company’s investigation had concluded.
Earlier in the month, Olubi had been suspended after a viral social media post accused him of abusive behaviour, prompting scrutiny of old tweets from 2009 to 2013.
In his statement, Olubi insisted he was denied due process. “Over the past few days, my reputation, built over years at Paystack, has been questioned because of information circulating online,” he wrote.
He noted that his legal team is reviewing the company’s handling of the matter and will take appropriate action.
The controversy began after a former partner publicly shared complaints about Olubi’s conduct online.
This resurfaced sexually explicit tweets he had made years earlier, some referencing colleagues and minors. While Paystack confirmed it had initiated an investigation and intended to appoint an independent reviewer, Olubi claims he was never given a chance to respond before his contract was terminated.
Defending his character, Olubi said the resurfaced posts do not represent who he is. “Those who know me personally or professionally understand that the posts being circulated do not reflect my conduct or the way I have lived my life. I have always acted in a manner that respects everyone’s dignity and safety,” he added.
Founded in 2015 by Olubi and Shola Akinlade, Paystack became the first Nigerian startup accepted into Y Combinator in 2016 and was acquired by Stripe in 2020 for over $200 million.
The company remains a leading African payments platform, despite the ongoing controversy surrounding its co-founder.
