Popular Nigerian fintech giant Paystack has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following an allegation of sexual misconduct involving a subordinate.
The allegation surfaced on November 12, 2025, prompting the company to initiate an internal investigation.
The suspension was confirmed by the company, though Olubi has not publicly commented on the matter and did not respond to multiple requests for comment.
In an official statement, Paystack 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, to protect those involved and ensure the integrity of the process, it would not make further comments until the investigation is completed.
The allegation has also led to the renewed circulation of tweets attributed to Olubi from 2009 to 2013.
The posts include sexually explicit jokes and comments about colleagues, as well as references that some users online have described as inappropriate.
Because these posts date back over a decade and have not been addressed by Olubi, their context and intent remain unclear.
Olubi deactivated his X (formerly Twitter) account on November 13, a day after the allegations surfaced.
The situation comes amid heightened discussions surrounding workplace behaviour and accountability within Africa’s rapidly growing tech ecosystem.
Recent high-profile cases elsewhere on the continent have sparked calls for stronger governance and clearer reporting mechanisms within startups.
Recall that Paystack, founded in 2015 by Ezra Olubi and Shola Akinlade, is a leading Nigerian fintech company providing online and offline payment infrastructure to businesses across Africa.
The company was the first Nigerian startup accepted into the prestigious Y Combinator accelerator in 2016, and it rapidly grew to serve tens of thousands of merchants.
In 2020, Paystack was acquired by global payments giant Stripe for over US$200 million, marking one of the largest fintech exits in Nigeria.
Olubi, as co-founder and Chief Technology Officer, played a key role in building the company’s technology architecture, helping it scale across Nigeria and beyond.
Stripe has not issued a public statement regarding the matter.
