Paystack, the Nigerian fintech unicorn acquired by Stripe, has placed its Co-founder and Chief Technology Officer, Ezra Olubi, on immediate suspension following the emergence of sexual-misconduct allegations circulating online.
The controversy intensified earlier in the week when decade-old tweets allegedly authored by Olubi resurfaced on social media, prompting widespread criticism.
A Nigerian tech publication later compiled and republished several of the posts, many of which contained sexually suggestive remarks and inappropriate references to colleagues. Some posts also raised concerns due to language interpreted as referencing minors.
In a statement issued on Thursday, Paystack confirmed that Olubi has been relieved of all operational responsibilities while the company conducts a formal investigation.
“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 announced.
Paystack added that it would refrain from sharing additional details until its review is completed.
The situation escalated quickly on social media as users circulated screenshots of tweets dated between 2009 and 2013.
One 2011 tweet referenced inappropriate conduct toward a coworker, while another post mentioned wanting to photograph a colleague’s body. The online backlash urged both Paystack and Stripe to respond.
Olubi, who co-founded Paystack with CEO Shola Akinlade in 2015, helped steer the startup from its early beginnings into one of Africa’s most prominent fintech success stories.
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The company’s meteoric rise eventually led to its acquisition by global payments giant Stripe in 2020, in a deal reportedly worth over $200 million.
As the internal inquiry proceeds, industry observers say the outcome could have significant implications for Paystack’s leadership dynamics and corporate culture.
