Paystack, the Stripe-owned Nigerian payments company, has suspended its co-founder and Chief Technology Officer, Ezra Olubi, following an allegation of sexual misconduct involving a subordinate. The allegation surfaced across social media platforms on Wednesday, November 12, 2025, prompting immediate scrutiny within Nigeria’s tech ecosystem.
The company confirmed the suspension to TechCabal, noting that it has launched a formal internal investigation into the matter. “Paystack is aware of the allegations involving our Co-founder, Ezra Olubi,” the company said in an official statement. “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.”
Paystack added that, “Out of respect for the individuals involved and to protect the integrity of the process, we will not be commenting further until the investigation is complete.” In other news, iNaijanow shared a story on the power tussle involving Wike and the military.
Old Tweets Resurface, Intensifying Public Scrutiny
Alongside the allegation, multiple decade-old tweets authored by Olubi resurfaced online, triggering renewed debate about workplace conduct and leadership accountability. The tweets, posted between 2009 and 2013, years before he co-founded Paystack contain sexually explicit jokes, descriptions of erections during meetings, comments about coworkers’ bodies, and several posts referencing minors and sexualised anime characters. One tweet from May 23, 2011, read: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
Several screenshots of the tweets circulated widely on X (formerly Twitter), sparking outrage and revival of long-standing concerns around behaviour of senior figures in the African tech ecosystem. As of press time, Olubi has not publicly responded to the misconduct allegation or the resurfaced tweets. He deactivated his X account late on Wednesday, November 13, 2025.
A Recurring Issue in the African Tech Ecosystem
One comparable incident occurred in 2022 when Risevest, a fintech startup, suspended its CEO Eke Urum following allegations of sexual and non-sexual impropriety. Investors set up an independent panel that confirmed a “pattern of abuse of power, workplace bullying, and intimidation,” though it did not find evidence of sexual assault.
Risevest was also vocal about its commitment to transparency during the investigation. Another earlier case involved Tizeti, a broadband tech company. Its CEO Kendall Ananyi was accused in 2020 of sexual harassment by a mentee at the Meltwater Entrepreneurial School of Technology (MEST). An independent investigation was later carried out, and his reinstatement raised questions about the adequacy of harassment policies in emerging tech firms.
Industry Implications for Paystack
Paystack, acquired by Stripe in 2020 for $200 million, is widely regarded as one of Africa’s most influential fintech companies. Its alumni have founded firms across logistics, payments infrastructure and financial technology, making the company’s internal culture and governance practices closely watched across the continent.
Because of Paystack’s profile and Stripe’s involvement, the unfolding investigation has raised questions about how high-trust technology companies handle allegations involving senior founders and whether value-driven employer branding aligns with internal behaviour
Paystack emphasized that its investigation process would be “fair, transparent, and structured,” following its internal policies and core values
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