Paystack co-founder Ezra Olubi suspended over sexual misconduct allegations

Paystack co-founder Ezra Olubi suspended over sexual misconduct allegations

Paystack has suspended its co-founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct involving a subordinate and the resurfacing of past controversial tweets.

The suspension was confirmed to TechCabal on Friday, with the company stating that it had initiated a formal investigation into the claims.

“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 statement read.

The company added that it would not comment further “out of respect for the individuals involved and to protect the integrity of the process.”

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The development follows a social media post by a former partner of Olubi, which revived public scrutiny of several old posts he made between 2009 and 2013. The tweets—some of which contained sexually suggestive comments—circulated widely online, sparking discussions about personal conduct and the long-term consequences of social media activity. Olubi has since deactivated his X account.

Olubi co-founded Paystack in 2015 alongside Shola Akinlade. The fintech platform became the first Nigerian startup accepted into the Y Combinator accelerator in 2016, expanding rapidly to support tens of thousands of businesses across Africa.

In 2020, Paystack was acquired by global payments giant Stripe in a deal reportedly worth over $200 million—one of the largest fintech exits in Nigerian startup history.

Olubi, as CTO, played a central role in building the company’s technology infrastructure and expansion.

The investigation into the allegations is ongoing, and no further official statements have been issued.

Paystack co-founder Ezra Olubi suspended over sexual misconduct allegations