Paystack Fires Back: Ezra Olubi Was Terminated for Reputational Damage, Not Misconduct Probe

Paystack has broken its silence on Ezra Olubi’s claim that he was fired before the independent investigation was completed.

In a statement issued to TechCabal on November 24, 2025, the company said Olubi’s termination was not linked to the ongoing probe into allegations of misconduct. Instead, it was triggered by “significant negative reputational damage” caused by his resurfaced tweets.

Key points from Paystack’s statement:

• The decision was made under contractual rights, and “due process” was followed.  
• All financial obligations owed to Olubi have been met.  
• The termination is separate from the independent investigation being led by Aluko & Oyebode.  
• That probe remains ongoing and focuses solely on the workplace misconduct allegations.

“As a regulated company operating in multiple markets, we have a responsibility to act quickly when conduct has the potential to undermine trust,” Paystack’s statement said.

An internal source told TechCabal that Olubi’s response to the tweets, reportedly downplaying their seriousness, raised further concerns about his suitability for a leadership role during intense public and regulatory scrutiny.

Quick Recap of the Saga So Far

Nov 12: Allegations of misconduct in a past relationship surface on social media.  

Nov 12–13: Users dig up Olubi’s tweets from 2009–2013 containing explicit jokes about colleagues and minors.  

Nov 13: Paystack suspends Olubi; he deactivates his X account.  

Nov 22: Ezra Olubi fired by Paystack.  

Nov 23: Olubi publishes a blog post claiming termination happened before investigation concluded and without a hearing. He threatens legal steps. 

Nov 24: Paystack responds, saying firing was due to reputational damage, not the probe.

Meanwhile, the independent investigation into the misconduct allegations continues. Paystack says it will share updates once it’s complete.

More as it breaks.