CO-FOUNDER OF PAYSTACK, EZRA OLUBI, SUSPENDED FOLLOWING SEXUAL MISCONDUCT ALLEGATION
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Paystack, the Nigerian payments firm owned by Stripe, has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct involving a subordinate.
The controversy commenced on social media on Wednesday, when an individual with a past relationship with Olubi shared personal grievances online.
This disclosure led to renewed scrutiny of troubling tweets Olubi made between 2009 and 2013, many of which included sexually suggestive remarks about colleagues and minors.
The reemergence of these tweets reignited public discourse regarding accountability, personal conduct, and the enduring effects of social media activity. Olubi has since deactivated his X account.
Several of the revived tweets garnered widespread condemnation, with one stating: “I evaluate my female friends based on the sound of their urination. Thanks to the audio in my bathroom,” and another claiming: “Conserve water. Bathe with your neighbor’s daughter. ”
One such tweet, dated May 23, 2011, read: “Monday will be more enjoyable with an ‘a’ in it. Touch a colleague today. Inappropriately. ”
As reported by TechCabal on Friday, the company announced that it has initiated a formal investigation into the matter.
“Paystack is aware of the allegations concerning our Co-founder, Ezra Olubi. We consider issues of this nature to be extremely serious. Effective immediately, Ezra has been suspended from all duties and responsibilities pending the resolution of a formal inquiry,” the company stated in a confirmation to TechCabal.
The organization further indicated that it would refrain from commenting further while the investigation is in progress.
“Out of respect for the individuals involved and to maintain the integrity of the process, we will not be providing additional comments until the investigation is concluded,” Paystack remarked.
Founded in 2015 by Ezra Olubi and Shola Akinlade, Paystack is a prominent Nigerian fintech company offering online and offline payment infrastructure to businesses throughout Africa.
The firm became the first Nigerian startup accepted into the prestigious Y Combinator accelerator in 2016, quickly expanding to serve tens of thousands of merchants.
In 2020, Paystack was acquired by global payments leader Stripe for over US$200 million, marking one of the largest fintech exits in Nigeria.
Olubi, as Co-founder and Chief Technology Officer, was instrumental in developing the company’s technological framework, facilitating its growth across Nigeria and beyond.
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