Paystack has terminated the appointment of its co-founder and Chief Technology Officer, Ezra Olubi, following days of online allegations of sexual misconduct and a suspension initiated by the company’s board.
Mr Olubi, who co-founded the fintech firm in 2015, confirmed the termination in a statement.
He said the decision was conveyed while the company’s announced investigation was still ongoing.
According to him, Paystack ended his employment “before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond to the issues raised.”
He said the procedure breached Paystack’s internal policies and added that he cooperated fully with the board.
The allegations, which resurfaced across social media last week, involve old tweets and claims made by a former associate.
The posts triggered wide debate and led Paystack to announce what it described as an independent review.
In his statement, Olubi said the process leading to his exit did not align with what he was told when he was placed on suspension.
“On Saturday, 22 November 2025, I was informed that my employment had been terminated. This decision was taken before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond to the issues raised, in clear contravention of the terms of the suspension and Paystack’s own internal policies,” he said.
He also said that the social media posts circulating do not represent his conduct and added that he had responded to all requests from the board.
Olubi disclosed that his legal team is reviewing the termination and the company’s adherence to its procedures.
“My legal team is now reviewing the process that led to my purported termination, including its consistency with internal policies. They will take the steps they consider appropriate, and I will not be commenting further on this matter at this time,” he said.
Paystack has not released an updated statement since the announcement of the suspension and investigation.
