Just when we thought the storm surrounding Paystack’s flamboyant co-founder was settling into a quiet corporate investigation, the situation has exploded into a full-blown legal war. In a move that has stunned the African tech ecosystem, Paystack has officially terminated the appointment of Ezra Olubi.
But here is the twist: Ezra isn’t walking away with his head down. According to a report, the ousted tech chief is fighting back, declaring the move a violation of his rights and branding the decision with three heavy words: “The termination is unfair.”
We are no longer just talking about “old tweets” or “suspensions.” We are now witnessing what could be the messiest corporate divorce in African fintech history.
Ezra Breaks His Silence (Through Lawyers)
For days, Ezra remained silent while social media dissected his decade-old digital footprint. But the moment the “fired” letter hit his desk, the strategy changed.
According to the report, Ezra is insisting that due process was not followed in his removal. His camp argues that the termination was rushed and procedural corners were cut, specifically violating the terms of his contract.
This is a critical pivot. By focusing on “process” rather than the “allegations,” Ezra’s legal team is likely aiming to challenge the legality of how he was fired, regardless of whether the misconduct claims are true or not. This is a classic, high-stakes legal strategy: you don’t have to prove you’re a saint; you just have to prove the company broke its own rules to get rid of you.
Why This Is So Complicated
To understand why Ezra is so confident in fighting back, you have to look at the “Stripe Acquisition.” When Stripe bought Paystack for $200 million in 2020, it wasn’t just a handshake deal. There were complex contracts, vesting schedules for founders, and specific clauses on how a founder could be removed.
Legal experts, including Osita James Uche (Managing Partner at Blackcrest Law), have noted that these post-acquisition contracts often have strict definitions for “Cause”—the specific reasons you can fire a founder without paying them a massive severance.
- If Paystack fired him for “Cause” (Gross Misconduct): Ezra likely loses millions in unvested stock options.
- If Ezra proves “Unfair Termination”: He could force a settlement, claiming the company effectively stole his equity by firing him on shaky grounds.
This is the billion-dollar question: Did old tweets constitute “Gross Misconduct” under the contract he signed with Stripe in 2020? Ezra’s team seems to think the answer is “No.”
The Public Court: “Justice or Witch Hunt?”
The internet, as you noticed from the trending topics, is divided.
- Camp A: Believes Paystack (and Stripe) had to act to protect their brand. Corporate governance in 2025 has zero tolerance for the kind of explicit content alleged in those tweets.
- Camp B: Agrees with Ezra that this feels like a witch hunt. They argue that digging up tweets from 2013, long before Paystack existed, to fire a founder today sets a terrifying precedent for everyone in tech.
What Happens Next?
We are likely heading for a courtroom, or a very quiet, very expensive arbitration room. Ezra has retained a legal team and is reportedly “determined” to challenge the decision.
Paystack, on the other hand, is betting that the reputational risk of keeping him was costlier than the legal risk of firing him. They have cut the cord to save the ship.
This is no longer just a story about a co-founder behaving badly; it’s a landmark case that will define founder rights, “cancel culture” in corporate Africa, and the ruthless efficiency of Silicon Valley standards (Stripe) applied to Lagos realities.
One thing is certain: The “Paystack Mafia” era has officially cracked.
