Paystack Terminates Co-Founder Ezra Olubi Amid Misconduct Probe

LAGOS, Nigeria – Paystack has terminated the employment of its co-founder and chief technology officer, Ezra Olubi, following allegations of sexual misconduct with a junior employee. Olubi announced the Paystack Ezra Olubi termination in a blog post on November 23, 2025, saying the move happened before the company’s probe concluded. He claimed it violated internal policies and denied him a chance to respond.

The controversy erupted on November 12 when social media posts accused Olubi of inappropriate behaviour in a past relationship, including manipulation and abuse. Users quickly resurfaced tweets from 2009 to 2013 with explicit jokes about colleagues and minors, like a 2011 post: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.” Olubi deactivated his X account the next day. He has not commented publicly on the tweets or claims.

Paystack suspended Olubi on November 13, launching a formal investigation. “We take matters of this nature extremely seriously,” the company said then. “Effective immediately, Ezra has been suspended from all duties and responsibilities pending the outcome of a formal investigation.” We reported the suspension, noting Paystack’s plan for an independent probe. Stripe, Paystack’s owner since the $200 million 2020 buyout, has not commented.

Olubi’s post questioned the process. “On Saturday, 22 November 2025, I was informed that my employment had been terminated,” he wrote. “This decision was taken before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond.” He said his legal team is reviewing the matter and may take action. Requests to Paystack for a response got no response by publication.

A Scandal That Echoes Across Tech

Ezra Olubi termination has ignited debate on accountability in Nigeria’s startups. Paystack, Y Combinator‘s early African bet, shaped the ecosystem with alumni founding firms in logistics and finance. Its culture of transparency now faces tests.

Paystack stressed its process. “This process is guided by our policies, our values, and our commitment to maintaining a safe and respectful environment for all employees,” it said earlier. The outcome could influence how African tech handles similar situations in the future.

This story is developing.