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 move comes amid public outrage over resurfaced tweets and renewed scrutiny of Olubi’s past social media activity.
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The controversy began on Wednesday after an individual who previously had a relationship with Olubi published personal accusations online. The post triggered a wider backlash and prompted users to dig up tweets Olubi posted between 2009 and 2013. Many of the old posts contained sexually suggestive or inappropriate comments referencing colleagues and minors.
Following the backlash, Olubi deactivated his X account.
Some of the resurfaced posts sparked widespread condemnation. Among them was a tweet that read: “I judge my female friends by the sound their pee make. Thanks to the audio in my bathroom,” and another stating: “Save water. Take a bath with your neighbour’s daughter.”
One tweet dated May 23, 2011, said: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
The matter has now escalated into a formal corporate probe. According to a TechCabal report on Friday, Paystack confirmed that it had suspended Olubi and opened an investigation into the allegations.
“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 said.
It added that it would refrain from further comment until the review is concluded. “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 statement said.
Paystack, founded in 2015 by Olubi and Shola Akinlade, is one of Nigeria’s leading fintech companies, providing online and offline payment infrastructure to businesses across Africa. It became the first Nigerian startup to join Y Combinator in 2016 before expanding rapidly across the continent.
In 2020, the company was acquired by global payments giant Stripe in a deal valued at over US$200 million, one of the biggest exits in the Nigerian tech ecosystem.
Olubi, as CTO, played a central role in building Paystack’s core technology and scaling its infrastructure across markets. His suspension marks the most significant leadership crisis the company has faced since its acquisition.
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