Paystack, the Nigerian fintech company acquired by U.S. payments giant Stripe, is trending amid multiple developments surrounding co-founder and Chief Technology Officer (CTO) Ezra Olubi.
It has suspended Olubi, popularly known as Ikoyi Diddy, following a sexual misconduct allegation involving a subordinate.
The issue began circulating widely on social media and intensified after reports highlighted several of Olubi’s decade-old posts.
According to reports, the resurfaced tweets, posted between 2009 and 2013, included sexually explicit comments, references to photographing a coworker’s thighs, and statements involving minors. One 2011 tweet read: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
Paystack in a statement said “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 added that it would not comment further until the investigation concludes.
The attention around Olubi was further amplified by his 39th birthday on November 13, 2025. Tributes and reflections on his career flooded social media, highlighting his role in shaping Nigeria’s fintech landscape and building Paystack into a company capable of attracting global investment.
Paystack became a landmark success story when it was acquired by Stripe in October 2020 for a reported sum exceeding $200 million.
The deal marked one of the largest African fintech exits at the time and provided Paystack with access to Stripe’s global resources, helping African businesses connect seamlessly with international markets.
The acquisition is widely credited with boosting investor confidence in Nigeria’s tech ecosystem.
In a public-private partnership, Paystack collaborated with the Federal Airports Authority of Nigeria (FAAN) to introduce cashless payments at airports.
This initiative allowed travellers to make payments at retail points and service counters without cash, supporting Nigeria’s broader push toward a digital economy.
The move also reinforced Paystack’s role in providing secure, convenient payment solutions in high-traffic public spaces.
Paystack’s ongoing growth as a leading fintech platform shaping online and offline payments in Africa.
As investigations into Olubi proceed, Paystack remains at the centre of discussions on corporate accountability, digital payments, and African fintech growth.
