Paystack Co-Founder Ezra Olubi “Expired” After Sexual Misconduct Scandal – Vows to Take Legal Action
November 24, 2025
In a shocking turn of events, Nigerian fintech giant Paystack has terminated its co-founder and former Chief Technology Officer, Ezra Olubi, following serious allegations of sexual misconduct with a junior employee.
The decision was made on November 23, 2025 just ten days after Olubi was initially suspended pending an internal investigation. According to Olubi himself, the termination came without a formal hearing or opportunity to respond, prompting him to label the process “unfair” and vow to challenge it legally.
What Happened?
- On November 13, Paystack placed Ezra Olubi on indefinite suspension after allegations surfaced that he had engaged in a sexual relationship with a subordinate a clear violation of the company’s code of conduct.
- The controversy exploded online when old tweets from Olubi (2009–2013) resurfaced, containing sexually explicit and disturbing content. The posts quickly went viral, intensifying public outrage.
- Olubi deleted his X (Twitter) account shortly after the scandal broke.
- Paystack, now a subsidiary of U.S. payments giant Stripe (acquired in 2020 for over $200 million), appointed an independent investigator and emphasized its commitment to a “safe and respectful” workplace.
Despite the ongoing investigation, the company moved swiftly to terminate Olubi on November 23 a decision he claims breached both his suspension terms and Paystack’s own policies.
Ezra Olubi’s Response
In a blog post published hours after his firing, Olubi wrote:
“I was not given a hearing. I was not allowed to respond to the allegations. This is not the Paystack I co-founded.”
He confirmed that his legal team is already reviewing the matter and intends to fight the termination.
A Complicated Legacy
Ezra Olubi, alongside Shola Akinlade, co-founded Paystack in 2015. The company revolutionized digital payments across Africa, powering transactions for over 200,000 businesses and becoming the continent’s most celebrated fintech exit when Stripe acquired it.
For many in Nigeria’s tech ecosystem, Olubi has been an icon flamboyant, outspoken, and unapologetically himself. His sudden fall has left the community divided: some see the allegations as a betrayal of leadership responsibility, while others argue the punishment was disproportionate and lacked due process.
What Happens Next?
With Olubi vowing legal action and public discourse still raging, this saga is far from over. Questions remain about workplace culture in African tech, the weight of historical social media posts, and how global parent companies like Stripe enforce ethical standards in their subsidiaries.
One thing is clear: the Paystack story once a shining example of African innovation has taken a dark and dramatic turn.
What do you think was Paystack right to act decisively, or did they deny their co-founder basic fairness?
Let us know in the comments.