Paystack Fires Co-Founder Ezra Olubi

Nigerian fintech giant, Paystack, has terminated the appointment of its co-founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct that went viral in mid-November 2025.

Olubi announced his dismissal in a personal blog post published over the weekend, stating that he received notice of the decision on Saturday, November 22, 2025.

The former CTO said the company severed ties with him even before concluding the independent investigation it earlier initiated.

“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…,” Olubi wrote.

He expressed concern that the company’s actions violated the terms of his suspension and Paystack’s own internal procedures.

Olubi said the allegations circulating online had cast a shadow over his years of work as Paystack’s technical leader.

“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,” he stated.

According to him, the Board placed him on suspension and launched what it termed an “independent investigation.”

He explained that he refrained from commenting publicly during the probe to allow for “a fair, thorough and unbiased review.”

Olubi noted that he had helped institute the very systems and processes guiding Paystack’s internal operations, and insisted that he engaged in the investigation in good faith.

“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…,” he added.

He also maintained that those who know him personally or professionally understand that the online claims do not reflect his conduct.

The former CTO revealed that his legal representatives are now reviewing the company’s actions and the process that led to his dismissal.

“My legal team is now reviewing the process that led to my purported termination… They will take the steps they consider appropriate,” he said, adding that he will not make further comments for now.

The controversy began when a social media post accusing Olubi of inappropriate conduct and abusive behaviour towards a colleague went viral in mid-November.

Paystack reacted by announcing his immediate suspension pending the completion of an investigation.

In its earlier statement on the allegations, the company said it was committed to addressing the matter with full seriousness.

“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 fintech company said.

With Olubi’s termination now confirmed, the company has not yet issued a fresh statement on the next steps or findings from the ongoing investigation.