Paystack in Crisis as Co-Founder Ezra Olubi Deactivates Account Amid Abuse Allegations

Paystack has been emeshed in crisis as Co-Founder Ezra Olubi deactivated his account amid abuse allegations and disturbing viral tweets.

NewsOnline Nigeria reports that Nigerian fintech giant Paystack has been thrown into a reputational storm following explosive allegations of abusive behavior and the emergence of disturbing historic tweets linked to its Co-Founder and Chief Technology Officer, Ezra Olubi.

The controversy, which has dominated discussions across social media platform X (formerly Twitter), has sparked widespread outrage and raised serious questions about corporate ethics, workplace safety, and accountability within Nigeria’s tech ecosystem.

The uproar, NewsOnline gathered, began after finance professional Max Obae (@makispoke) made several serious accusations against Olubi, citing alleged mistreatment of domestic staff, workplace misconduct, and manipulative behavior in a personal relationship.

While her initial post did not name Olubi directly, online users quickly drew connections to the Paystack co-founder, prompting a deeper probe into his social media history.

Disturbing Tweets Resurface

As the scandal gained traction, old tweets from Olubi’s account resurfaced, containing content widely condemned as offensive and inappropriate. Some of the posts allegedly referenced explicit or disturbing themes, sparking outrage and calls for corporate accountability.

Following the backlash, Ezra Olubi deactivated his X account and has since remained silent, issuing no public response or clarification.

The confirmed allegations against the Paystack CTO included:

• Sexual Misconduct with a Subordinate: Engaging in sexual relationships with employees under his professional authority, a critical breach of corporate ethics and power dynamics.
• Systemic Misogyny: A pervasive pattern of demeaning attitudes and actions toward women.
• Contempt for the Underprivileged: Routinely talking down on domestic workers and individuals he perceived as intellectually inferior, revealing a deeply condescending class bias that contradicts the inclusive mission of the tech sector.

The OON Paradox and Olubi’s Net Worth

The ethical failure is magnified by Olubi’s immense personal and national stature. Olubi’s financial success is estimated to have given him a net worth of around $40 million, largely stemming from the Stripe acquisition.

Furthermore, the revelation of Olubi’s conduct is particularly jarring given his standing as a recipient of a national honour. The Officer of the Order of the Niger (OON) is awarded to individuals who have rendered services to the nation in a manner worthy of recognition. The surfacing of his old tweets, which detail explicit support for workplace sexual harassment, sexual depravity, and language suggestive of pedophilia, presents a severe moral contradiction to the dignity of a national award.

The Stripe Association: A Global Governance Crisis

The scandal immediately became a global issue because of Paystack’s acquisition by Stripe in October 2020. As a co-founder and CTO, Ezra Olubi is a key executive and board member of the Stripe-owned Paystack. His continued presence and ethical conduct are intrinsically tied to the reputation and stability of both Paystack and Stripe. The nature of the misconduct exposes the global corporation to severe reputational damage and legal liability. Olubi’s actions have effectively turned a local ethical failure into a major governance crisis for an American financial powerhouse.

A Disturbing Digital History: Verbatim Tweets

The old tweets, some dating back to 2009, revealed Olubi’s own words confirming a history of sexual depravity, bestiality, and language suggesting pedophilic tendencies. These posts are now being used as evidence of a profound lack of ethical judgment.

The Ripple Effect: Impact on the Nigerian Tech Ecosystem

This scandal deals a heavy blow to the reputation of the vibrant Nigerian tech ecosystem.

1. Reputational Damage: The exposure of a national honouree and a co-founder of Nigeria’s biggest tech success story for deep ethical rot introduces a perception of governance and character risk into the sector, potentially increasing scrutiny from global investors.
2. Loss of Trust: An executive in a financial services company with such a history erodes the confidence of customers and partners who rely on trust.
3. Brain Drain and Inclusion: The allegations of misogyny and contempt for workers could deter talented individuals, particularly women and those from less privileged backgrounds, from joining the local tech sector.

Demand for Accountability: What will Paystack and Stripe’s Response Be?

Ezra Olubi’s silent retreat by deleting his @0x account is unacceptable. As a corporate leader and national honouree, his fiduciary duty demands public transparency and accountability. The lack of a clear response from Olubi or Paystack/Stripe has turned social media into a courtroom.

On X and other platforms, thousands of users are demanding immediate and decisive action. The consensus among the online community is that the severity of the allegations and the nature of his archived tweets require more than silence. The public is watching closely to see how the Paystack and Stripe boards will respond to the crisis surrounding one of their highest-ranking executives.

The looming question for the global tech community is: Will Stripe allow an executive with this documented public history to remain on the board of one of its subsidiaries, or will corporate governance prevail? The response, or lack thereof, will set a major precedent for ethical standards in the fast-growing African tech sector.

How Nigerians Are Reacting

Paystack Yet to Respond

As of the time of reporting, Paystack has not issued an official statement addressing the controversy. The fintech community is closely watching to see how the company navigates what could be one of the most significant image crises in Nigeria’s tech scene.