Nigerian Fintech Company Paystack Suspends Co-founder Ezra Olubi Over Sexual Misconduct Allegations
THECONSCIENCE NG reports that Nigerian fintech giant Paystack has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct involving a subordinate.
The allegations, which first emerged on social media earlier this week, intensified after a Nigerian tech publication compiled a series of Olubi’s decade-old tweets containing sexually suggestive and inappropriate comments.
In a statement, Paystack confirmed the suspension and said a formal internal investigation has been launched.
“Paystack is aware of the allegations involving our co-founder, Ezra Olubi. We take matters of this nature extremely seriously.
“Effective immediately, Ezra has been suspended from all duties and responsibilities pending the outcome of a formal investigation,” the company said.
The company added, “Out of respect for the individuals involved and to protect the integrity of the process, we will not be commenting further until the investigation is complete.”
The controversy escalated after social media users circulated screenshots of tweets allegedly posted by Olubi between 2009 and 2013, which contained explicit sexual comments, including references to coworkers and minors.
One tweet from 2011 read, “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.” Another referenced photographing a coworker’s thighs.
Paystack, founded in 2015 by Olubi and CEO Shola Akinlade, is one of Nigeria’s leading fintech companies, providing online and offline payment infrastructure to businesses across Africa.
The company was the first Nigerian startup accepted into the prestigious Y Combinator accelerator in 2016 and rapidly expanded to serve tens of thousands of merchants.
In 2020, Paystack was acquired by global payments giant Stripe in a deal valued at over $200 million, marking one of the largest fintech exits in Nigeria.
Olubi, as co-founder and CTO, played a key role in building the company’s technology architecture, helping it scale across Nigeria and beyond.
Paystack emphasised that the probe into Olubi’s conduct is ongoing and will be handled thoroughly. “A formal investigation is underway to examine the allegations, and we are committed to ensuring a transparent and fair process,” the company stated.
Tech observers note that the case has sparked intense debate across Nigeria’s tech and business communities, with calls for accountability and stricter workplace policies following the resurfaced tweets.
