Paystack has explained the termination of thr appointment of its Co-founder and former Chief Technology Officer, Ezra Olubi, saying it acted under its contractual rights and “followed due process.”
![](https://thenigerialawyer.com/wp-content/uploads/2024/11/TheNigerialawyer-WhatsApp-Channel1.jpg")
The company confirmed that the decision is separate from the ongoing independent investigation into workplace misconduct allegations.
In a statement shared with TechCabal on Monday, the company said it had met all financial obligations owed to Olubi.
“As a regulated company operating in multiple markets, we have a responsibility to act quickly when conduct has the potential to undermine trust.
“After reviewing the situation, we exercised our right under his contract and followed due process to end his employment.
“This has no bearing and is separate from the independent investigation into the allegations of workplace misconduct, which remains ongoing.
“The review is being led by Aluko and Oyebode, the external law firm appointed by the Board.
“It is continuing independently, and we will share updates once it is complete,” the company stated.
Olubi had previously confirmed on his personal blog that he was dismissed before the investigation was completed.
He said, ”I was not given a meeting or an opportunity to respond before my contract was ended,” adding that the termination “appeared to contravene the terms of [his] suspension and the company’s internal policies.”
He also said that his legal team would explore possible steps in response.
Founded in 2015 by Olubi and Shola Akinlade, Paystack is a leading African payments company.
The firm became the first Nigerian startup accepted into Y Combinator in 2016 and was acquired by Stripe in 2020 for over $200 million.
ARTIFICIAL INTELLIGENCE FOR LAWYERS: A COMPREHENSIVE GUIDE
Reimagine your practice with the power of AI “...this is the only Nigerian book I know of on the topic.” — Ohio Books Ltd
Authored by Ben Ijeoma Adigwe, Esq., ACIArb (UK), LL.M, Dip. in Artificial Intelligence, Director, Delta State Ministry of Justice, Asaba, Nigeria.
Bonus:
Get a FREE eBook titled “How to Use the AI in Legalpedia and Law Pavilion” with every purchase.
How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌐 Website: www.benadigwe.com
Ebook Version: Access directly online at: https://selar.com/prv626
________________________________________________________________________ The Law And Practice Of Redundancy In Nigeria: A Practitioner’s Guide, Authored By A Labour & Employment Law Expert Bimbo Atilola
_______________________________________________________________________
"You Don't Need To Be Rich, You Just Need To Start" — Victoria Ezeigwe, Esq Launches Investment Handbook For Nigerians Starting With ₦5,000
Get your copy today and take the first step toward financial growth:👉 https://selar.co/4f16676016
_______________________________________________________________________
