Alleged Sexual Misconduct: Paystack Fires Co-Founder Ezra Olubi

The Nigerian fintech space was thrown into turmoil on Sunday as Paystack co-founder and former Chief Technology Officer, Ezra Olubi, announced that he had been fired by the company amid swirling allegations of sexual misconduct — before the firm’s own investigation had been completed.

In a detailed personal statement titled “Terminated,” Olubi said the past few days had seen his name and reputation “called into question” by online reports accusing him of inappropriate behavior. He disclosed that the Paystack Board of Directors had earlier placed him on suspension and launched what it described as an independent investigation.

Olubi said he deliberately refrained from issuing any public comment while the inquiry was ongoing, hoping for a “fair, thorough, and unbiased review” of the allegations.

But according to him, that expectation was not met.

“On Saturday, 22 November 2025, I was informed that my employment had been terminated,” he revealed. “This decision was taken before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond… in clear contravention of the terms of the suspension and Paystack’s own internal policies.”

The former CTO — widely regarded as one of the brains behind Paystack’s technical architecture — said the lack of due process created a “vacuum” that allowed “assumptions and misrepresentations to spread without challenge.”

He insisted that the online posts alleging misconduct do not reflect his character, saying those who know him “personally or professionally” understand that he has always conducted himself in ways that respect the dignity and safety of others.

Olubi noted that, as co-founder and longtime Board member, he had helped establish many of the systems the company now relies on. He said he engaged with the investigation in good faith and cooperated fully with the Board prior to his sudden dismissal.

Following the termination of his contract, Olubi confirmed that his legal team is now reviewing the circumstances surrounding what he described as a premature and procedurally flawed decision. “They will take the steps they consider appropriate,” he said, adding that he will not comment further for now.

Paystack has not yet issued a public statement addressing the claims that it terminated its co-founder before completing the investigation.

The situation continues to fuel intense debate across Nigeria’s tech ecosystem, with many awaiting the company’s next move — and any potential legal challenge from Olubi in the days ahead.