Paystack Co-Founder Ezra Olubi Suspended Following Sexual Misconduct Claims

Paystack, the Nigerian payments company owned by Stripe, has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct involving a subordinate.

The issue emerged on social media on Wednesday after a former partner of Olubi shared personal complaints online. The post led to renewed scrutiny of old tweets from Olubi between 2009 and 2013, many of which contained sexually suggestive references involving colleagues and minors. In response, Olubi has deactivated his X account.

Some of the tweets have sparked widespread criticism, including one that stated: “I judge my female friends by the sound of their pee make. Thanks to the audio in my bathroom,” and another that read: “Save water. Take a bath with your neighbour’s daughter.” A tweet from May 23, 2011, also suggested inappropriate behavior toward coworkers.

TechCabal reported on Friday that Paystack has initiated a formal investigation into the matter. In a statement, 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 company added that it would refrain from further comment to maintain the integrity of the process and respect all individuals involved.

Founded in 2015 by Ezra Olubi and Shola Akinlade, Paystack is a leading Nigerian fintech firm providing online and offline payment solutions to businesses across Africa. The company was the first Nigerian startup accepted into the Y Combinator accelerator in 2016 and quickly scaled to serve tens of thousands of merchants. In 2020, Stripe acquired Paystack for over US$200 million, marking one of Nigeria’s largest fintech exits. Olubi, as co-founder and CTO, was instrumental in developing the company’s technology architecture and supporting its rapid growth.