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.

In a statement to Condia, Paystack said it is “aware of the allegations involving our Co-founder, Ezra Olubi,” adding that as of November 13, Olubi “has been suspended from all duties and responsibilities pending a formal investigation.”

The company said it has initiated “a review process led by Paystack’s Board,” which is appointing “an independent third-party investigator to ensure the investigation is conducted fairly, thoroughly, and with full confidentiality.” Paystack said it will not comment 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. Its alumni network—which has spawned startups across fintech, logistics and infrastructure—has kept the company’s internal culture under a persistent spotlight.

The allegation and resurfaced tweets now put those cultural claims under direct scrutiny at the leadership level.

*This is a developing story.