Nigerian fintech giant Paystack has terminated the employment of its co-founder and Chief Technology Officer, Ezra Olubi, following a suspension linked to resurfaced allegations of sexual misconduct.
Olubi, who co-founded the company in 2015 and led its technical development for a decade, confirmed his dismissal in a public statement issued on Saturday, 22 November 2025.
His termination comes just days after Paystack’s Board of Directors placed him on suspension and announced an internal review prompted by allegations circulating on social media, including old tweets and claims made by a former associate. At the time, the company described the suspension as part of an “independent investigation.”
However, in his statement, Olubi disclosed that he was removed before the investigation was completed and without being given an opportunity to respond.
“On Saturday, 22 November 2025, I was informed that my employment had been terminated,” he said. “This decision was taken before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond to the issues raised, in clear contravention of the terms of the suspension and Paystack’s own internal policies.”
Olubi insisted that the allegations and resurfaced posts do not reflect his conduct and confirmed that his legal team is reviewing the termination process for compliance with company procedures.
“My legal team is now reviewing the process that led to my purported termination… They will take the steps they consider appropriate, and I will not be commenting further on this matter,” he added.
Paystack has not issued a follow-up statement since Olubi’s removal.
The development comes at a delicate moment for the fintech, which gained international visibility after its 2020 acquisition by global payments leader Stripe and plays a significant role in Africa’s $1 billion digital payments market.
Industry observers say the decision may reflect Paystack’s attempt to safeguard its brand reputation and signal zero tolerance for conduct — online or offline — that could damage public trust.
Analysts also note that the episode may set an important precedent for workplace accountability, internal governance, and crisis management in Nigeria’s rapidly expanding tech ecosystem.
