PAYSTACK, one of Africa’s leading payment technology companies and a subsidiary of global fintech giant Stripe, has suspended its co-founder and Chief Technology Officer (CTO), Ezra Olubi, after a public allegation of sexual misconduct involving a junior employee emerged online.
News Point Nigeria reports that the company confirmed the development in an official statement on Friday, noting that Olubi’s suspension takes immediate effect while a formal investigation is launched into the claims.
The allegation first surfaced on November 12, 2025, spreading rapidly across social media platforms, particularly X (formerly Twitter), where the accuser detailed alleged inappropriate behaviour by the Paystack executive.
As public outrage mounted, the company acknowledged “the seriousness” of the accusation, assuring stakeholders that the matter would be handled with the utmost transparency and adherence to its internal ethics framework.
In a statement shared with TechCabal, Paystack wrote: “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 it would refrain from further public comments until the investigation is concluded, stressing that the process will be guided by the firm’s values, workplace conduct policies, and legal protocols.
Public criticism of Olubi intensified after dozens of his old tweets—posted between 2009 and 2013, years before Paystack’s establishment in 2015 resurfaced online.
The tweets, shared widely after the allegation broke, contained sexually explicit jokes, comments involving minors, and references to co-workers, sparking renewed debate about workplace safety and leadership accountability in Africa’s tech ecosystem.
One widely circulated post from May 2011 referenced inappropriate touching of a colleague, adding further pressure on Paystack to take decisive action.
As the controversy escalated, Ezra Olubi deactivated his X account on November 13, 2025. He has not publicly responded to the latest allegations or addressed the resurfaced historical posts.
Industry observers say the scandal is one of the most high-profile misconduct accusations to hit Nigeria’s fast-growing tech sector, raising questions about corporate governance, employee protection systems, and leadership vetting in an ecosystem celebrated globally for innovation.
Paystack’s investigation is ongoing.
