Following the controversy surrounding Paystack co-founder Ezra Olubi over alleged sexual misconduct with a subordinate and a series of alleged pedophilia statements made on Twitter dating back to 2011, the company has decided to investigate the matter and suspend Ezra pending the completion of the investigation.
According to TechCabal, a reputable tech news platform in Nigeria, Paystack confirmed the suspension, saying it has opened a formal investigation into the allegations.
“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 said.
The company added that it would not be offering further comments while the process is ongoing.
“Out of respect for the individuals involved and to protect the integrity of the process, we will not be commenting further until the investigation is complete,” Paystack said.
Ezra in series of tweets dated back to 2011 has allegedly made disturbing pedophilia remarks.
Paystack, founded in 2015 by Ezra Olubi and Shola Akinlade, is a leading Nigerian fintech company providing online and offline payment infrastructure to businesses across Africa.
The company was the first Nigerian startup accepted into the prestigious Y Combinator accelerator in 2016, and it rapidly grew to serve tens of thousands of merchants.
In 2020, Paystack was acquired by global payments giant Stripe for over US$200 million, marking one of the largest fintech exits in Nigeria.
Olubi, as co-founder and Chief Technology Officer, played a key role in building the company’s technology architecture, helping it scale across Nigeria and beyond.
