Paystack, the Nigerian fintech giant owned by Stripe, has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following an allegation of sexual misconduct involving a subordinate.
The controversy erupted on Wednesday after an individual who previously had a relationship with Olubi shared personal complaints on social media. The post triggered renewed scrutiny of several controversial tweets Olubi published between 2009 and 2013, many of which contained sexually suggestive remarks referencing colleagues and minors.
The resurfaced tweets, which have since sparked widespread criticism, included statements such as: “I judge my female friends by the sound their pee makes. Thanks to the audio in my bathroom,” and, “Save water. Take a bath with your neighbour’s daughter.” Another tweet from May 23, 2011, read: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
Olubi has deactivated his X account amid growing public backlash.
In a statement issued to TechCabal on Friday, Paystack confirmed it had launched a formal investigation.
“Paystack is aware of the allegations involving our Co-founder, Ezra Olubi. 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,” the company said.
The firm added that it would refrain from making further comments while the probe continues, citing respect for all parties involved and the need to protect the integrity of the process.
Founded in 2015 by Olubi and Shola Akinlade, Paystack has become one of Africa’s leading payment infrastructure providers for both online and offline businesses. The company became the first Nigerian startup to join Y Combinator in 2016 and has since grown to serve tens of thousands of merchants.
In 2020, Paystack was acquired by global payments leader Stripe for over US$200 million, marking one of Nigeria’s biggest fintech exits.
Olubi, as CTO, has been central to developing Paystack’s core technology systems and scaling its operations across the continent.
