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. The accusation began circulating widely on social media on Wednesday, November 12, 2025.
The company confirmed the suspension to TechCabal, stating that a formal investigation is now underway.
“Paystack is aware of the allegations involving our Co-founder, Ezra Olubi,” the company said in a statement. “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.”
Paystack added that out of respect for those involved and to preserve the integrity of the review process, it would not comment further until the investigation is concluded. Olubi did not respond to TechCabal’s request for comment as of the time of publication.
Old Tweets Resurface, Intensifying Scrutiny, READ STORY HERE
The allegation has reignited public attention around several decade-old tweets from Olubi, shared between 2009 and 2013, which contain sexually explicit jokes about colleagues, references to minors, and inappropriate comments about coworkers. One resurfaced tweet from May 23, 2011, read:
“Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
The tweets, posted years before Paystack was founded, went viral across X on Thursday, heightening online outrage as the company investigates the new allegation. Olubi has not publicly addressed either the allegation or the re-circulated tweets. His X account was deactivated on Thursday, November 13, 2025.
Context Within a Broader Industry Reckoning
The incident comes as the African tech ecosystem continues confronting multiple cases of workplace misconduct among senior executives. In October, Oscar Limoke—CEO of Kenyan IT firm Pawa IT Solutions—was fined by the Employment and Labour Relations Court over sexual harassment and assault allegations that led to a staff member’s resignation.
Paystack’s Influence Heightens Industry Attention
Founded in 2015, Paystack became one of Y Combinator’s earliest African success stories, later achieving one of the continent’s largest exits with its $200 million acquisition by Stripe in 2020. Its alumni network now spans logistics, fintech, and financial-infrastructure startups across the continent.
Given the company’s scale, global ties, and strong public emphasis on values such as transparency, clear communication, and kindness, its handling of this investigation is expected to be closely watched across the tech ecosystem. Observers note that the situation raises broader questions about governance, leadership accountability, and how culture and values are upheld within high-trust organisations.
TechCabal also contacted Stripe, Paystack’s parent company, for comment but received no response by the time of publication.
“In line with our internal policies, we have established a fair, transparent, and structured review process to conduct a thorough investigation,” Paystack said. “This process is guided by our policies, our values, and our commitment to maintaining a safe and respectful environment for all employees.”
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