By Deborah Nnamdi
Nigerian fintech company Paystack has terminated the appointment of its co-founder and Chief Technology Officer, Ezra Olubi, following a suspension triggered by resurfaced allegations of sexual misconduct.
Olubi, who has been instrumental to Paystack’s technological growth since its establishment in 2015, confirmed his dismissal in a public statement on Saturday, November 22, 2025.
The development came just days after Paystack’s Board of Directors announced his suspension and opened an internal probe into allegations circulating online. The claims, revived through social media posts, include old tweets and personal accusations from a former associate. At the time, the board said the suspension was to allow for an “independent” investigation.
In his statement, Olubi said he was informed of his termination before the investigation was concluded, adding that no meeting or hearing was held to allow him to respond to the allegations. He described the process as a violation of the terms of his suspension and Paystack’s internal procedures.
“I was informed that my employment had been terminated… before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond to the issues raised,” he said.
Olubi maintained that the posts being circulated do not reflect his character and noted that he had fully cooperated with the company’s board throughout the process. He added that his legal team is now reviewing the procedure that led to his dismissal to determine whether it aligns with Paystack’s internal policies.
Paystack has yet to release a follow-up statement addressing the termination. The company, known for its partnership with global payments platform Stripe and its significant role in Africa’s billion-dollar digital payments landscape, now faces increased public scrutiny over its handling of the allegations and Olubi’s exit.
Industry watchers say the case could influence broader conversations around workplace accountability, governance, and reputation management within Africa’s expanding tech ecosystem.
