Paystack Suspends Co-Founder Ezra Olubi Amid Sexual Misconduct Scandal
TLDR
- Nigeria’s fintech firm Paystack has suspended its co-founder and Chief Technology Officer, Ezra Olubi, following an allegation of sexual misconduct involving a subordinate
- The claim began circulating on social media on November 12, 2025, and Paystack confirmed it has launched a formal investigation
- The company also noted that it will not comment further until the process is complete to protect the integrity of the investigation
Nigeria’s fintech firm Paystack has suspended its co-founder and Chief Technology Officer, Ezra Olubi, following an allegation of sexual misconduct involving a subordinate. The claim began circulating on social media on November 12, 2025, and Paystack confirmed it has launched a formal investigation.
In its statement, Paystack said: “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 also noted that it will not comment further until the process is complete to protect the integrity of the investigation.
In parallel, a series of decade-old tweets by Olubi, from between 2009 and 2013, resurfaced. The posts included sexually explicit jokes about colleagues, references to minors, and other content described by observers as inappropriate. Olubi has deactivated his X account and has not responded publicly to the allegations.
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Points clés à retenir
The suspension of Ezra Olubi highlights growing scrutiny around the behaviour of senior executives in Africa’s tech sector and signals how companies are under pressure to uphold governance and ethical standards. With Paystack being one of Africa’s high-profile fintech exits (acquired by Stripe in 2020), the incident could affect stakeholder trust, employee morale, and public perception of the company’s values and culture. The resurfacing of historic social-media posts underscores how past conduct — even predating major business milestones — may pose reputational and operational risk. For Paystack and its backers, the investigative outcome and how it is communicated will matter significantly for investor confidence, talent retention, and regulatory relationships. More broadly, the case may prompt other regional tech firms to revisit internal policies, tone-from-the-top practice,s and how they manage legacy digital footprints of their leaders.
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