Stripe-owned Nigerian payments company Paystack has suspended its Co-Founder and Chief Technology Officer, Ezra Olubi, after a sexual misconduct allegation involving a subordinate surfaced on social media yesterday 13th of November 2025. The company confirmed the suspension and announced that a formal internal investigation has begun.
Paystack said in an official statement that it is aware of the allegations and is treating the matter with full seriousness.
“Effective immediately, Ezra has been suspended from all duties and responsibilities pending the outcome of a formal investigation,” the company said. Paystack also noted that it will not comment further until the internal process is complete.
How the Story Escalated
The allegation began circulating on Wednesday and spread quickly across social media platforms. The situation intensified after Techsoma published an in-depth report that highlighted dozens of Olubi’s decade-old posts and disturbing public comments.
Read the full investigation here: Nigerian Tech Crisis: Paystack Co-founder Ezra Olubi Exposed for Pattern of Sexual Depravity, Misogyny, and Power Abuse
The resurfaced tweets, posted between 2009 and 2013, contained sexually explicit remarks, comments about coworkers, and references involving minors. One 2011 post read
“Monday will be more fun with an a in it. Touch a coworker today. Inappropriately.”
These revelations renewed public debate about personal conduct, workplace boundaries, and power dynamics in leadership positions.
A Major Turning Point for Paystack
This development marks a significant moment for Paystack, one of Africa’s most celebrated fintech companies. Founded by Ezra Olubi and Shola Akinlade in 2015, the company became a symbol of African tech success when it was acquired by Stripe in 2020 for a reported figure above two hundred million dollars.
The suspension has created intense pressure on the company’s governance structures and has reignited conversations about accountability, workplace safety, and leadership integrity within Nigeria’s technology ecosystem.
What Industry Observers Are Saying
The controversy has raised broader questions about
• How tech companies respond to allegations involving founders
• The gap in internal reporting frameworks
• The role of company culture in preventing misconduct
Many industry stakeholders note that Paystack’s swift suspension shows a shift toward stronger corporate responsibility in Africa’s fast-growing tech landscape.
What Happens Next
The internal investigation is ongoing, and Paystack has not provided a timeline for completion. Stripe, the parent company, is expected to monitor the process closely. Techsoma will continue to follow the story and provide updates as new information emerges.
