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Paystack, the Stripe-owned Nigerian fintech company, has suspended its co-founder and Chief Technology Officer, Ezra Olubi, following serious allegations of sexual misconduct involving a subordinate.
In a statement to TechCabal, the company confirmed that a formal investigation into the claims has been launched.
“Paystack is aware of the allegations involving our Co-founder, Ezra Olubi,” the company said. “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 also emphasized that no further details would be provided until the inquiry concludes, underscoring the importance of respecting all parties involved and maintaining the integrity of the investigative process.
The controversy surrounding Olubi intensified after several of his decade-old tweets resurfaced. Posted between 2009 and 2013, these tweets contained sexually explicit comments about colleagues and disturbing references to minors.
Some tweets reportedly included remarks about photographing a colleague’s thighs and other inappropriate statements. One widely circulated tweet from 2011 read, “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
The resurfacing of these posts has prompted widespread attention on social media, leading Olubi to deactivate his X account.
This development comes at a time when Nigerian tech companies are increasingly scrutinized for workplace culture, employee welfare, and professional conduct.
Paystack, which has been at the forefront of digital payments innovation in Africa, now faces the challenge of managing both internal and public responses while ensuring that the investigative process is thorough and impartial.
Observers note that the suspension of a co-founder, particularly in a high-profile company like Paystack, sends a strong signal about corporate accountability and the seriousness with which allegations of sexual misconduct are treated.
While Olubi’s contributions to Paystack’s growth and technology leadership are widely recognized, the company appears determined to prioritize workplace safety, ethics, and compliance with corporate governance standards.
As the formal investigation unfolds, stakeholders including employees, investors, and the broader tech community will be closely monitoring developments.
The outcome of the inquiry will not only determine Olubi’s future at Paystack but may also influence broader conversations about professional conduct, social media accountability, and the responsibilities of leadership in Nigerian tech companies.
Paystack’s statement and actions underscore the company’s commitment to addressing allegations transparently, ensuring fairness for all parties, and upholding ethical standards, even when dealing with high-ranking executives.
For now, attention remains on the investigation and the company’s next steps in navigating this sensitive matter.
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