Ezra Olubi, co-founder and former Chief Technology Officer of Paystack, has broken his silence after nearly two weeks, announcing that the company terminated his employment on Saturday, 22 November 2025, while an “independent” investigation into allegations of sexual misconduct and disturbing decade-old social media posts was still ongoing.
In a carefully worded statement released Sunday, November 24, 2025, Olubi alleged that Paystack’s Board informed him of the decision without granting him a meeting, hearing, or opportunity to respond. These are actions he claims violate both the terms of his November 13 suspension and the company’s own internal policies.
“The 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 wrote. He added that his legal team is now reviewing the process and will “take the steps they consider appropriate.”
Olubi, who co-founded Paystack in 2015 with Shola Akinlade and helped build it into Africa’s most celebrated payments company before its $200 million-plus acquisition by Stripe in 2020, had remained silent since deactivating his X account on November 13.
That day, Paystack placed him on immediate suspension after allegations surfaced from a former partner and screenshots of explicit, often disturbing tweets he posted between 2009 and 2013 went viral.
The resurfaced posts, many containing sexualised comments about colleagues, references to minors, and apparent rape fantasies, sparked widespread outrage and prompted civil society groups, including the Centre for Anti-Corruption and Open Leadership, to call on the Nigerian Police Force to investigate possible criminal offences.
In his statement, Olubi did not directly address the content of the tweets or the specific allegations of inappropriate behaviour toward a subordinate. Instead, he insisted that “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,” and emphasised his role in establishing Paystack’s internal governance systems.
Paystack has not yet responded publicly to Olubi’s claim of termination. The company’s only official comment remains its November 13 statement confirming the suspension and the appointment of an independent third-party investigator “to ensure a fair and transparent review.” Sources close to the company, speaking on condition of anonymity, told TechCabal that the investigation is ongoing and that no final decision on Olubi’s status has been communicated internally.
The development marks a dramatic escalation in a scandal that has gripped Nigeria’s tech ecosystem for the past eleven days. What began as personal allegations quickly snowballed into a broader reckoning over accountability, digital footprints, and workplace power dynamics at one of Africa’s flagship startups.
For Paystack and parent company Stripe, the episode represents an unprecedented reputational crisis. Industry watchers say the outcome, whether Olubi pursues litigation, the investigation findings are made public, or criminal charges are filed, could set important precedents for how African tech companies handle executive misconduct in an era of permanent online records.
