Paystack, the Stripe-owned Nigerian payments company, has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following an allegation of sexual misconduct involving a subordinate.
A report by TechCabal said the fintech company has launched a formal investigation into the matter, after the allegation trended on social media on November 12.
The controversy started on social media on Wednesday, after someone who once had a relationship with Olubi published personal complaints online.
The post prompted renewed attention to disturbing tweets Olubi posted between 2009 and 2013, many of which contained sexually suggestive content involving colleagues and minors.
The resurfacing of the tweets reignited public debate over accountability, personal conduct, and the long-lasting impact of social media activity. Olubi has since deactivated his X account.
Some of the resurfaced tweets drew widespread criticism, with one reading: “I judge my female friends by the sound of their pee make. Thanks to the audio in my bathroom,” while another stated: “Save water. Take a bath with your neighbour’s daughter.”
One of the tweets, posted on May 23, 2011, read: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
According to a report on TechCabal on Friday, the company said it had opened a formal probe into the matter.
“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 in a confirmation statement made to TechCabal.
The firm added that it would not be offering further comments while the process is ongoing.
“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,” Paystack said.
Paystack, founded in 2015 by Ezra Olubi and Shola Akinlade, is a leading Nigerian fintech company 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 it rapidly grew to serve tens of thousands of merchants.
In 2020, Paystack was acquired by global payments giant Stripe for over US$200 million, marking one of the largest fintech exits in Nigeria.
Olubi, as co-founder and Chief Technology Officer, played a key role in building the company’s technology architecture, helping it scale across Nigeria and beyond.
