Tech Shockwave: Paystack Fires Co-Founder Ezra Olubi Amid Sexual Misconduct Controversy

Lagos, Nigeria — In a stunning development that has sent shockwaves through Nigeria’s prominent tech ecosystem, fintech giant Paystack has reportedly terminated the employment of its co-founder and Chief Technology Officer (CTO), Ezra Olubi, following serious allegations of sexual misconduct and the resurfacing of highly inappropriate social media posts.

The termination, which reportedly took effect over the weekend, comes after the company had initially placed Olubi on suspension to allow for an internal investigation into the matter.

The Allegations and The Backlash

The controversy surrounding Olubi intensified after allegations of sexual misconduct involving a subordinate were brought to light. Simultaneously, a series of decade-old tweets (dating back to 2009-2013) from Olubi’s now-deactivated X account resurfaced online.

These posts contained sexually explicit remarks, inappropriate comments involving colleagues, and other disturbing references that triggered widespread public outcry and intense scrutiny of corporate accountability in the Nigerian tech space.

• Initial Action: Paystack had swiftly announced Olubi’s suspension earlier in the month, stating that an external independent investigator would be hired to look into the allegations.
• The Termination: The recent move to terminate his employment suggests the company took decisive action, even before the formal conclusion of the investigation was publicly announced.
  Olubi’s Stance: “The Termination is Unfair”
  Following the news of his firing, Ezra Olubi released a statement through a blog post, expressing his determination to fight back against the decision.

He reportedly stated that he was informed of his termination on Saturday, November 22, 2025, and believes the 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.”

This defense sets the stage for a potential legal battle, raising questions about contractual obligations—especially following Paystack’s high-profile acquisition by Stripe in 2020—and the application of corporate governance policies.

Implications for the African Tech Ecosystem

This incident highlights the growing pressure on African tech companies to uphold high ethical and governance standards.

As Paystack is one of the continent’s most successful startups, achieving unicorn status and being acquired by a global player, the controversy places a spotlight on:

• Workplace Culture: The scrutiny of conduct, especially among senior executives, and the need for clear anti-harassment policies.
• Founder Accountability: The significant reputational and operational risks posed by the historic digital footprints of company founders.
• Stakeholder Trust: The potential impact on employee morale, investor confidence, and public perception of the company’s values.

The quick and forceful action taken by Paystack, even while facing internal dissent from a co-founder, signals a significant shift toward prioritizing corporate integrity and ethical leadership in Africa’s booming technology sector.