Nigerian fintech leader Paystack has dismissed its co-founder and Chief Technology Officer, Ezra Olubi, after placing him on suspension over resurfaced sexual misconduct allegations. The move has generated widespread public debate as the company presses forward with an independent review of the claims.
Olubi, who has been instrumental in shaping the company’s technology since its inception in 2015, confirmed his termination on Saturday, November 22, 2025.
Background: Suspension and Allegations
Olubi’s termination followed days of online uproar, during which old tweets and accusations from a former associate resurfaced and spread widely across social media. Paystack’s Board had earlier suspended him while initiating what it described as an independent and objective investigation.
The suspension was initially positioned as a step toward ensuring a thorough, unbiased review of the allegations.
Olubi Challenges the Process
In his public statement, Olubi said his employment was ended before the internal investigation reached a conclusion, alleging that he was not given a chance to defend himself or address the allegations directly.
He wrote:“On Saturday, 22 November 2025, I was informed that my employment had been terminated. 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 resurfaced content does not reflect his character and stressed that he fully cooperated with Paystack’s Board. He added that his legal team is reviewing the termination to evaluate whether Paystack followed its established policies.
“My legal team is now reviewing the process that led to my purported termination, including its consistency with internal policies. They will take the steps they consider appropriate, and I will not be commenting further on this matter at this time,” he stated.
Paystack’s Position on the Dismissal
In its response, Paystack confirmed that it ended Olubi’s employment due to “significant negative reputational damage” caused by the resurfaced online posts and the ensuing public reaction.
The company maintained that it acted within its contractual rights and followed proper procedures. It also noted that all financial obligations owed to Olubi have been fulfilled.
“As a regulated company operating in multiple markets, we have a responsibility to act quickly when conduct has the potential to undermine trust.
“After reviewing the situation, we exercised our right under his contract and followed due process to end his employment,” Paystack said.
The fintech clarified that this decision is independent of the ongoing investigation into workplace misconduct allegations. The external review, led by law firm Aluko & Oyebode, remains active and will proceed without interference.
Intense Public Attention on Paystack
With Olubi’s exit, Paystack, owned by global payments giant Stripe, is now under increased public scrutiny regarding its handling of the allegations and its decision-making process. Many in Nigeria’s tech ecosystem are watching closely as the independent investigation advances. The company has promised to provide further updates once the external review is completed.
