Paystack Co-Founder Ezra Olubi Terminated Amid Sexual Misconduct Controversy

Ezra Olubi, co-founder and technical leader at Paystack

The termination of Ezra Olubi's employment in Paystack has been a shocking development to netizens. Well, some are noy surprised but he's indeed surprised because in his statement, he said "this decision was taken before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond to the issues raised, in clear contravention of the terms of the suspension and Paystack’s own internal policies."

Paystack, one of Africa’s leading fintech companies, terminated the co-founder and technical leader following allegations of sexual misconduct. The decision has sent ripples across the tech and startup ecosystem, and has raised many questions that target corporate governance about how they're handling sensitive workplace investigations. Olubi revealed the termination in a statement shared publicly on Saturday, November 22, 2025, via a blog post.

“Over the past few days, my name and reputation, built over years as co-founder and technical leader at Paystack, have been called into question because of information circulating online,” Olubi said. “In response, the Board of Directors of Paystack placed me on suspension and initiated what was described as an ‘independent’ investigation.”

He continued, expressing frustration over the timing and process of his termination. “I was informed that my employment had been terminated. This decision was taken before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond to the issues raised, in clear contravention of the terms of the suspension and Paystack’s own internal policies,” Olubi stated.

Olubi, who has also served as a long-standing board member, emphasized his cooperation with the investigation and maintained that the allegations circulating online do not reflect his conduct. “Those who know me personally or professionally understand that the posts being circulated do not reflect my conduct or the way I have lived my life,” he said.

The terminated executive also revealed that his legal team is now reviewing the circumstances surrounding the termination, including compliance with internal company policies. “They will take the steps they consider appropriate, and I will not be commenting further on this matter at this time,” Olubi added.

The Paystack board has yet to release a public statement addressing Olubi’s termination, and this has left many in the startup community awaiting clarification on both the allegations and the company’s internal processes.

This allegation comes at a time when African tech startups are increasingly under scrutiny for workplace conduct, diversity, and governance. How Paystack navigates this controversy may have lasting implications not only for the company but also for investor confidence in the Africa’s growing fintech sector.