Paystack, a well-known fintech company in Africa, has suspended its co-founder and Chief Technology Officer, Ezra Olubi. This decision comes after a combination of two distinct issues: the discovery of disturbing social media posts from his past, and a separate, more recent allegation of sexual misconduct.
In recent days, a user on X (formerly Twitter) compiled a thread of old tweets attributed to Olubi, some dating back to 2013 and 2015. These posts included graphic and alarming content. Reports from news outlets like Sahara Reporters, Vanguard, and Peoples Gazette claim that the tweets contained explicit sexual comments and joked about inappropriate subjects involving minors and animals.
The reaction online was swift and intense. The original post by FortuneFuhn quickly gained traction, leading to widespread public outrage. Hashtags like #Paystack and #EzraOlubi became trending topics in Nigeria, with many expressing shock and disbelief. People are questioning how a leader of such a respected company could be linked to these comments.
A Second, Internal Allegation
Compounding the crisis, TechCabal has reported that the suspension is not only due to the old tweets. These reports allege a second, more recent, and internal claim involving sexual misconduct with a subordinate. This new dimension suggests the company’s investigation is handling two parallel and serious allegations.
Paystack’s Quick Response to a PR Crisis
Paystack faced a major public relations crisis after news broke about serious issues. With their recent acquisition by Stripe, a large payments company in the US, they knew they had to act quickly.
On Friday, November 14, 2025, Paystack issued an official statement announcing that they had suspended Olubi immediately. They stated they would conduct a thorough investigation to verify the facts and decide on the next steps.
Importantly, Paystack emphasised its “zero-tolerance policy” for misconduct. This shows they take the allegations seriously and want to reassure the public, their partners, and Stripe that they are handling the situation with care.
Understanding the Characters: Why This Matters
To understand the significance of this situation, it’s essential to know who we are discussing.
Who is Ezra Olubi?
Ezra Olubi is not your average CTO. He co-founded Paystack with CEO Shola Akinlade. While Akinlade often takes the spotlight, Olubi is known for his technical expertise and his unique style.
He has a vibrant, androgynous fashion sense, featuring brightly colored hair, bold makeup, and high heels. This has made him a well-known and sometimes controversial figure in Nigeria’s conservative corporate world. He represents progressive, non-conformist success. His public image—admired by some and criticised by others—adds to the intensity of the current scandal.
What is Paystack?
Paystack is not just another startup; it is a key success story in African FinTech. FinTech, which stands for “Financial Technology”, refers to any technology used to provide financial services, such as apps for banking, investing, or, in Paystack’s case, making and receiving payments online.
- Paystack’s Journey: Launched in 2015, Paystack solved a major issue by allowing African businesses to accept online payments easily. It became essential for Nigeria’s and later Africa’s growing internet economy.
- The Big Acquisition: In 2020, US payments giant Stripe purchased Paystack for over $200 million. This deal marked a significant milestone. It validated that local founders can create world-class companies that compete globally.
This issue is not just about one person’s old tweets. It concerns a company that represents national and continental pride, now linked to something troubling.
The Situation: What’s Happening and Why It Matters
We are currently in the middle of an important story. Key people are taking action, and the outcome is uncertain. Here are the main points to watch:
- The Investigation: Paystack, along with Stripe, will investigate. This is now a two-part probe: they must verify the authenticity and context of the old tweets, and separately, investigate the internal allegation of sexual misconduct. The outcome of both will determine the impact on the brand.
- Olubi’s Response: As of now, Ezra Olubi has not made a public statement about the suspension or the allegations. His silence is significant. Will he deny the tweets? Will he apologise? Will he say he was hacked? What he decides to do next is very important.
- Accountability on Two Fronts: This situation raises two important questions about responsibility. While the public discusses old tweets, there is also a serious internal issue regarding sexual misconduct that affects workplace safety and how the company is managed. The company must deal with both its public image and its internal culture.
- Corporate Fallout: This is a challenge for Stripe. How will this large American company manage a cultural crisis involving one of its top African subsidiaries? Their decision will set an important example.
For now, the African tech community is waiting anxiously. A company that used to make headlines for its billion-dollar valuations is now facing a crisis.
