Paystack fires co-founder Ezra Olubi amid sexual misconduct allegations

By: Chidozie Nwali

Nigerian fintech giant Paystack has terminated the employment of its co-founder and former Chief Technology Officer, Ezra Olubi, following a scandal involving allegations of sexual misconduct and the public resurfacing of highly inappropriate, decade-old tweets.

The company, acquired by Stripe in 2020 – in a landmark $200 million deal, confirmed Olubi’s removal on Monday, citing “significant negative reputational damage” stemming from his inappropriate past (2009-2013) posts on X (formerly twitter), which it deemed inconsistent with Paystack’s core values.

Olubi’s employment was officially terminated shortly after the controversy erupted in mid-November 2025. The crisis began when an allegation of sexual misconduct involving Olubi and a subordinate employee was made public on X.

Observers widely shared a series of Olubi’s tweets, primarily posted between 2009 and 2013. These posts included sexually explicit jokes about colleagues, inappropriate references to minors, and other content that sparked widespread condemnation. Olubi subsequently deactivated his X account.

Paystack stated that the decision to terminate Olubi’s employment was driven by the “significant and immediate harm” caused by these resurfaced public posts.

“We take matters of this nature extremely seriously,” Paystack stated. “The views expressed in the old posts are not consistent with our values and have caused profound damage to our company’s reputation.” Paystack said.

However, Ezra Olubi strongly contested the fairness of his termination, alleging that Paystack violated company policy.

Olubi claims he was dismissed abruptly and without a formal meeting, hearing, or prior notice, stating that the termination process was “irregular” and failed to adhere to internal governance standards.

His legal team is reportedly reviewing the terms of his departure, suggesting a potential legal challenge regarding the manner in which the decision was executed.

Ezra Olubi co-founded the  payment processor  with Shola Akinlade in 2015; and has remained at the board following its acquisition.

Crucially, Paystack has clarified that Olubi’s termination for reputational damage is a separate matter from the ongoing investigation into the specific allegation of sexual misconduct involving a subordinate.

Paystack confirmed that an independent, formal investigation was launched immediately following the initial allegation and remains underway.