Paystack, the Nigerian payments company owned by Stripe, has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following an allegation of sexual misconduct involving a subordinate.
The issue surfaced on Wednesday after an individual who previously had a personal relationship with Olubi shared complaints online. The post triggered wider scrutiny of several old tweets posted by Olubi between 2009 and 2013, many of which contained sexually suggestive comments involving colleagues and minors. The revived attention sparked public outrage and renewed conversations about workplace ethics, online behaviour, and personal accountability. Olubi has since deactivated his account on X.
Several of the resurfaced tweets drew heavy criticism for their inappropriate tone. One read: “I judge my female friends by the sound of their pee make. Thanks to the audio in my bathroom.” Another stated: “Save water. Take a bath with your neighbour’s daughter.” A third tweet, posted in 2011, said: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
The company confirmed on Friday that a formal investigation had been opened into the allegation. In a brief statement, Paystack said the suspension was a precautionary step taken to ensure transparency and fairness throughout the review process.
“Paystack is aware of the allegations involving our Co-founder, Ezra Olubi. We take matters of this nature extremely seriously. Effective immediately, he has been suspended from all duties and responsibilities pending the outcome of a formal investigation,” the company said.
Paystack added that it would not provide further public comments until the internal process is concluded, citing the need to protect the individuals involved and maintain the integrity of the investigation.
Founded in 2015 by Ezra Olubi and Shola Akinlade, Paystack has grown into one of Africa’s leading fintech companies, providing payment infrastructure for online and offline transactions. The company became the first Nigerian startup to join the Y Combinator accelerator in 2016 and has since expanded its services to multiple African countries.
In 2020, Paystack was acquired by global payments leader Stripe in a deal reportedly valued at more than $200 million—one of the largest exits in Nigeria’s tech ecosystem. As CTO, Olubi played a central role in developing the platform’s technical framework and scaling its systems to support tens of thousands of merchants across the continent.
Post comments (0)