Paystack Fires Co-Founder Ezra Olubi Amid Resurfaced Misconduct Allegations

Paystack has fired Co-Founder Ezra Olubi amid resurfaced misconduct allegations.

 

NewsOnline Nigeria reports that Nigerian fintech powerhouse Paystack has terminated the appointment of its co-founder and Chief Technology Officer, Ezra Olubi, following a suspension triggered by resurfaced allegations of sexual misconduct.

Olubi, who has played a pivotal role in building Paystack’s technology backbone since its launch in 2015, confirmed his dismissal in a public statement on Saturday, November 22, 2025.

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The decision comes just days after Paystack’s Board announced his suspension and an internal probe into allegations circulating widely on social media, including old tweets and claims made by a former associate.

Olubi Reacts to His Dismissal

 

In his statement, Olubi said he was removed from his position before the investigation was concluded, alleging he was denied due process.

“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,”
he said, describing the action as a breach of Paystack’s internal policies.

He insisted that the allegations do not represent his conduct and noted that he fully cooperated with the Board throughout the probe.

Olubi added that his legal team is currently reviewing the process leading to his dismissal to determine compliance with company policy.

“My legal team is now reviewing the process that led to my purported termination… They will take the steps they consider appropriate,”
he stated, declining further comment.

Paystack Yet to Respond

As of press time, Paystack has not released an official follow-up statement regarding the termination.

The company, renowned for its partnership with global payments giant Stripe and its influence in Africa’s fast-growing digital payments space now faces heightened scrutiny over its governance processes and handling of workplace-related allegations.

Industry observers say the outcome of this case may shape future conversations on accountability, internal controls, and reputation management across Africa’s expanding tech ecosystem.