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 situation escalated on Wednesday after an individual who previously had a relationship with Olubi shared personal accusations on social media. The post drew renewed attention to old tweets Olubi made between 2009 and 2013, several of which contained sexually suggestive remarks involving colleagues and minors. Their resurfacing sparked widespread debate about accountability, personal behaviour, and the lasting consequences of past online activity. Olubi has since deactivated his X account.
In a statement to TechCabal, Paystack confirmed the suspension:“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 added that it would not comment further until the investigation concludes, citing the need to respect those involved and maintain the integrity of the process.
Paystack, founded in 2015 by Olubi and Shola Akinlade, is one of Nigeria’s leading fintech companies, offering online and offline payment solutions to businesses across Africa. It became the first Nigerian startup to join the Y Combinator accelerator in 2016 and quickly expanded to serve tens of thousands of merchants.
In 2020, global payments giant Stripe acquired Paystack for more than US$200 million, marking one of the biggest exits in Nigeria’s tech ecosystem. As CTO, Olubi played a central role in developing Paystack’s technology infrastructure and supporting its expansion within Nigeria and across the continent.
Source: https://punchng.com/
