Paystack, the Nigerian fintech company acquired by global payments leader Stripe, has placed its Co-founder and Chief Technology Officer, Ezra Olubi, on suspension following allegations of sexual misconduct involving an employee.
The controversy emerged after a social media post by a former partner of Olubi detailing personal grievances. This triggered renewed attention to a series of tweets Olubi shared between 2009 and 2013, some of which contained sexually suggestive references involving colleagues and minors. Olubi has since deactivated his X account.
Some of the resurfaced posts have sparked widespread condemnation. One tweet reportedly read: “I judge my female friends by the sound of their pee make. Thanks to the audio in my bathroom,” while another stated: “Save water. Take a bath with your neighbour’s daughter.” A tweet dated May 23, 2011, suggested inappropriate contact with coworkers, reading: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
Okay News reports that Paystack has confirmed opening a formal investigation into the matter. In a statement provided to TechCabal, the company said: “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 firm emphasized its commitment to confidentiality and integrity during the process, stating: “Out of respect for the individuals involved and to protect the integrity of the process, we will not be commenting further until the investigation is complete.”
Founded in 2015 by Olubi and Shola Akinlade, Paystack has emerged as a leading payments infrastructure provider in Africa, serving tens of thousands of businesses. The company was the first Nigerian startup to join the prestigious Y Combinator accelerator in 2016 and was acquired by Stripe in 2020 for over US$200 million. Olubi, as Chief Technology Officer, played a pivotal role in designing and scaling the company’s technology systems.
