Nigerian fintech company, Paystack, has terminated the employment of its co-founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct.
Olubi disclosed his dismissal in a blog post published over the weekend, stating that he was informed of the decision on Saturday, November 22, 2025.
According to him, the termination was communicated even before the company concluded its independent investigation into the allegations.
He wrote, “Over the past few days, my name and reputation, built over years as co-founder and technical leader at Paystack, have been called into question because of information circulating online. In response, the Board of Directors of Paystack placed me on suspension and initiated what was described as an “independent” investigation.
“Once that process began, I chose not to make any public statements. I did this to avoid interfering with the investigation and because I expected a fair, thorough and unbiased review of the allegations being discussed online. This created a vacuum that allowed assumptions and misrepresentations to spread without challenge.
“Those who know me personally or professionally understand that ...s being circulated do not reflect my conduct or the way I have lived my life. I have always, to the best of my ability, conducted myself in a manner that respects everyone’s dignity and safety.
“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.
“As co-founder, technical leader and long-serving Board member, I have been part of instituting the systems and processes that underpin Paystack’s internal operations. I engaged with this investigation in good faith and cooperated fully with the Board’s directives on that basis.
“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.”
Paystack had earlier suspended Olubi following allegations of sexual misconduct and abusive behaviour towards a colleague. The controversy began in mid-November 2025 after a social media post accusing the co-founder of inappropriate conduct went viral.
The company announced the launch of an independent investigation shortly after the allegations gained public attention.
“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.
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