Paystack Suspends Co-founder Ezra Olubi Over Sexual Misconduct Allegations
Nigerian Fintech company, Pystack, has announced the suspension of its co-founder and Chief Technology Officer, Ezra Olubi on account of alleged sexual misconduct.
Olubi has been trending in the social media over a series of his social media posts that suggest sexual deviance including sexual innuendos about minors and bestiality.
Online tech news platform, TechCabal reports that Paystack confirms that it has initiated in investigation in the allegations against Olubi.
Confirming the suspension, Paysatack to told TEchCabal that:
“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.
“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.”
Speaking further, the Fintech stated that it has established a “fair, transparent, and structured” process to investigate all the allegations against Olubi.
“Paystack is aware of the allegations involving our Co-founder, Ezra Olubi,” the company told TechCabal in a statement. “As of Thursday evening,
November 13, 2025, Ezra has been suspended from all duties and responsibilities pending a formal investigation.”
The company said it has initiated a review process led by its board in line with its internal policies:
“The Board is in the process of appointing an independent third-party investigator to ensure the investigation is conducted fairly, thoroughly, and with full confidentiality.”
“To protect the integrity of this process, we will not be commenting further until the investigation is complete.”
“In line with our internal policies, we have established a fair, transparent, and structured review process to conduct a thorough investigation,”
“This process is guided by our policies, our values, and our commitment to maintaining a safe and respectful environment for all employees.
Though reports indicate that the social media posts were made between 2009 and 2013, long before Paystack was founded in 2015.
Commentators, however, believe the tweets reflect the inner core of Mr. Olubi and as such robs off on his engagements, including on Payastack’s staff and psychology. In 2020, the company was acquired for a record $200 million by an international consortium. Paystack is a major player in the electronic payment system in Africa and affiliates with some of global leaders in the international financial systems.
