Paystack, one of Nigeria’s top fintech companies, has suspended its co-founder and Chief Technology Officer, Ezra Olubi. The move comes after a serious allegation of sexual misconduct with a junior staff member appeared online this week.
Company Launches Full Investigation
In a short statement, Paystack confirmed the suspension is effective immediately. The company has started an independent probe and removed Olubi from all duties until the review ends.
Old Posts Spark Outrage
The issue gained attention when users dug up Olubi’s tweets and posts from 2009 to 2013. Many contained explicit sexual content, jokes about inappropriate workplace contact, and disturbing references involving minors. A 2011 tweet that went viral urged people to “touch a coworker inappropriately.”
Olubi has stayed silent on the matter and shut down his social media accounts on November 13, 2025.
Paystack’s Journey So Far
Ezra Olubi started Paystack in 2015 together with CEO Shola Akinlade. The payment company grew rapidly and became a symbol of African tech success. In 2020, U.S. payment giant Stripe bought it for more than $200 million one of the continent’s biggest tech exits.
Bigger Questions for African Tech
The scandal has opened tough conversations across Nigeria’s startup scene. Many are asking how companies should handle misconduct claims, especially when founders are involved.
People also want stronger workplace safety rules in the fast-moving African tech space.
Paystack says it will not comment further until the investigation finishes. Whatever the result, this case is likely to shape how African startups deal with similar situations in the future.
