Paystack co-founder and former Chief Technology Officer, Ezra Olubi, has publicly announced his employment with the Nigerian fintech company was terminated on Saturday, November 22, 2025. This dramatic development comes after nearly two weeks of silence from Olubi, following allegations of sexual misconduct and the resurfacing of disturbing social media posts he made between 2009 and 2013. In a statement released on Sunday, November 24, 2025, Olubi asserted that Paystack’s Board informed him of the decision without granting him a meeting, hearing, or an opportunity to respond, claiming these actions violate both the terms of his November 13 suspension and the company’s internal policies.

Olubi, who played a pivotal role in co-founding Paystack in 2015 with Shola Akinlade and building it into one of Africa’s most celebrated payments companies before its significant acquisition by Stripe in 2020, stated, “The 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.” He confirmed that his legal team is now reviewing the process and will "take the steps they consider appropriate," indicating a potential legal challenge against the termination.

The controversy first erupted in mid-November when allegations from a former partner surfaced, coupled with screenshots of explicit and often disturbing tweets posted by Olubi between 2009 and 2013. These resurfaced posts, which reportedly contained sexualized comments about colleagues, references to minors, and apparent rape fantasies, quickly went viral. The public outrage prompted civil society groups, including the Centre for Anti-Corruption and Open Leadership, to call upon the Nigerian Police Force to investigate potential criminal offenses. Following these revelations, Paystack had placed Olubi on immediate suspension on November 13, confirming the appointment of an independent third-party investigator to ensure a “fair and transparent review.”

Despite the severity of the allegations, Olubi’s statement did not directly address the content of the controversial tweets or the specific claims of inappropriate behavior toward a subordinate. Instead, he maintained that “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.” He also emphasized his foundational role in establishing Paystack’s internal governance systems, implying a familiarity and adherence to company protocols that he now claims were breached during his termination process.

As of the time of reporting, Paystack has not issued a fresh public statement in response to Olubi’s announcement of his termination. The company’s last official comment remains its November 13 statement regarding the suspension and ongoing investigation. Sources close to the company, who requested anonymity, indicated that the investigation is still active and that no final internal decision on Olubi’s status had been communicated. Similarly, it remains unclear whether Stripe, Paystack’s parent company, will comment further on the escalating situation.

This incident represents a significant escalation in a scandal that has profoundly impacted Nigeria’s tech ecosystem. What began as personal allegations against a prominent figure quickly transformed into a broader discussion on accountability, the indelible nature of digital footprints, and workplace power dynamics within Africa’s rapidly growing startup landscape. Industry experts, such as Osita James Uche, Managing Partner at Blackcrest Law, noted that the implications for founders post-acquisition, particularly regarding contract clauses and shareholding influence, could be complex. Uche suggested that if Olubi retained significant shareholder status or a board position, a final decision would typically require a board vote, contingent on investigation findings.

For Paystack and Stripe, this episode constitutes an unprecedented reputational crisis. Observers anticipate that the outcome, whether through potential litigation from Olubi, public disclosure of investigation findings, or the filing of criminal charges, could establish crucial precedents for how African tech companies navigate executive misconduct in an era where online records are increasingly permanent and scrutiny is intense. The developing story underscores the critical need for robust governance and ethical frameworks across the continent’s burgeoning tech sector.