Paystack Fires Co-Founder Ezra Olubi Over Misconduct Allegations

Paystack, one of Africa’s leading fintech firms, has dismissed its co-founder and Chief Technology Officer, Ezra Olubi, following public allegations of sexual misconduct involving a junior employee.

The termination was revealed by Olubi in a blog post on Saturday, November 23, 2025, marking one of the most high-profile governance scandals in Nigeria’s tech industry.

The controversy began in mid-November after a social media user accused Olubi of abusive behaviour, leading to renewed circulation of explicit tweets he posted between 2009 and 2013. The tweets sparked widespread outrage and intensified scrutiny of workplace culture in Africa’s tech sector.

As the backlash grew, Paystack suspended Olubi and announced a formal probe, including plans to appoint an independent investigator to examine both the allegations and its internal procedures. However, Olubi said he was fired before the investigation concluded and claimed he was not given a hearing or the chance to respond—an action he described as inconsistent with his suspension terms and company policy.

He said his legal team was reviewing the process behind his dismissal and would take appropriate action.

Paystack—acquired by global payments company Stripe in 2020—has not issued any public response since Olubi’s post, and it remains unclear whether Stripe will address the development.

Industry experts say any legal challenge could force disclosure of details surrounding the decision. The incident has renewed calls for stronger governance, clearer harassment reporting structures, and greater accountability in Africa’s rapidly expanding startup ecosystem.

For now, Paystack faces uncertainty as it manages the fallout from removing a co-founder under contentious circumstances.