Paystack Suspends Co-Founder Ezra Olubi Amid Resurfaced Sexual Misconduct Allegations

Paystack has placed its co-founder and Chief Technology Officer, Ezra Olubi, on suspension following the circulation of social media posts containing sexualised comments that date back over a decade.

The company confirmed that the suspension is effective immediately while a formal internal investigation is launched to examine the allegations.

The posts, reportedly made between 2009 and 2013, include disturbing remarks about inappropriate conduct toward colleagues and minors. One of the tweets referenced “touching a coworker… inappropriately,” while another described voyeuristic behaviour involving friends. These posts resurfaced recently, gaining traction on social media and prompting public scrutiny of Olubi and the company.

Paystack emphasized that the matter is being taken extremely seriously. In an official statement, the company said it will not issue further comments until the investigation concludes, citing the need to protect both the integrity of the process and the individuals involved.

Ezra Olubi has yet to publicly respond to the allegations. He has deactivated his social media accounts, including his X profile, following the resurfacing of the posts. Olubi, a notable figure in Nigeria’s fintech sector, was previously awarded the Officer of the Order of the Niger (OON) by the late former President Muhammadu Buhari, in recognition of his contributions to the country’s technology and startup ecosystem.

The suspension has raised questions about corporate governance, accountability, and the responsibility of tech leaders in Nigeria’s burgeoning digital economy.

Analysts note that Paystack’s swift response indicates an awareness of the potential reputational and operational risks tied to high-profile leadership controversies.

The investigation is ongoing, and the company has reiterated its commitment to addressing the issue transparently once the review is complete.