Paystack has suspended its co-founder and chief technology officer, Ezra Olubi, following allegations of sexual misconduct involving a subordinate. The claims, first shared on social media earlier this week, have reignited attention to a series of Olubi’s old tweets containing sexually explicit remarks about colleagues and minors.
The company confirmed the suspension in a statement, noting that it had launched a formal investigation. “Effective immediately, Ezra has been suspended from all duties and responsibilities pending the outcome of a formal investigation,” Paystack said. “Out of respect for the individuals involved and to protect the integrity of the process, we will not comment further until the investigation is complete.”
The resurfacing of posts dating back more than a decade coincided with the recent allegations, prompting wider scrutiny of Olubi’s conduct. Several social media users have called on Paystack to clarify its workplace policies and outline procedures for ensuring staff safety and accountability.
Olubi, known for his unconventional style and advocacy for LGBTQ rights, co-founded Paystack with Shola Akinlade in 2015 after studying computer engineering at Babcock University. The company, one of Africa’s leading fintech firms, was an early African investment for Y Combinator and was acquired by Stripe in 2020 for $200 million.
Paystack serves thousands of businesses across Africa, making the investigation highly sensitive for customers, employees, and regulators. The case has sparked broader questions about corporate governance in fast-growing startups, standards for senior leadership, and how internal complaints are handled.
As the investigation continues, the tech community will be watching closely, particularly given Paystack’s size, influence, and ties to global fintech players.
