Paystack suspends co-founder Ezra Olubi over alleged misconduct

Paystack has suspended its co-founder and CTO, Ezra Olubi, after an allegation of misconduct involving a subordinate began circulating publicly on November 12, 2025. The company reportedly confirmed the move and said a formal investigation has started. Olubi has not publicly responded.

The allegation spread after an individual who previously dated him shared personal grievances online. That post drew attention to older conversations and caused users to revisit Olubi’s decade-old tweets, some of which contain sexually explicit remarks about colleagues and minors. The tweets were posted between 2009 and 2013. Olubi has since deactivated his X account.

“Paystack is aware of the allegations involving our Co-founder, Ezra Olubi,” the company said in a statement to TechCabal. “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 and Stripe did not comment further.

The company added: “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.”

The development mirrors previous misconduct investigations involving African tech leaders. In 2022, Risevest founder Eke Urum stepped aside after multiple allegations, prompting investors to convene an independent review panel. Those episodes have pushed governance and culture to the centre of conversations in high-trust companies, especially when senior leaders are involved. 

Paystack’s approach is now being measured not only for its internal process but also for reputational risk. Tolulope Olorundero, communications expert and founder of Mosron Comms, said the company must determine whether its policies were flouted and assess the reputational burden posed by the co-founder’s actions and resurfaced tweets.

Founded in 2015, Paystack became one of Y Combinator’s earliest African bets and was acquired by Stripe for $200 million in 2020. Former employees have since founded startups across fintech, logistics, and financial infrastructure, keeping the spotlight on the company’s culture.

The resurfaced tweets and the allegation now test how those values translate when the scrutiny targets its own leadership. “In line with our internal policies, we have established a fair, transparent, and structured review process,” Paystack said. 

*This is a developing story.