After weeks of speculation, Paystack has officially addressed the controversy surrounding the exit of its Co-founder and former CTO, Ezra Olubi, stating that his employment was terminated due to “significant negative reputational damage.”
In a statement, the company explained that the decision followed the resurfacing of damaging posts on X (formerly Twitter) and emphasized that it acted within its contractual rights and followed due process. Paystack also confirmed that all financial obligations owed to Olubi have been settled.
The company clarified that Olubi’s termination is separate from an ongoing independent investigation into workplace misconduct allegations, which is being conducted by Aluko & Oyebode, an external law firm appointed by Paystack’s board.
Paystack stated:
As a regulated company operating in multiple markets, we have a responsibility to act quickly when conduct has the potential to undermine trust.
Olubi Responds, Questions Process
In a blog post published on 23 November 2025, Olubi confirmed he was informed of his termination on 22 November 2025, claiming the decision was made before the investigation concluded and without granting him a meeting, hearing, or opportunity to respond.
Olubi stated that he deliberately avoided public commentary during his suspension to avoid interfering with the board’s investigation but now regrets that his silence “created a vacuum” that allowed “assumptions and misrepresentations to spread without challenge.”
He insisted that the resurfaced tweets—central to the controversy—“do not reflect my conduct or the way I have lived my life,” portraying himself as someone who has always respected “everyone’s dignity and safety.”
Nature of the Controversy
While Olubi’s X account has since been deactivated, the resurfaced posts reportedly contained sexually explicit comments involving minors, cats, and colleagues, painting a deeply negative picture of the Paystack co-founder.
Olubi’s legal team is now reviewing the termination process to determine whether it complied with Paystack’s internal policies. He stated he will not comment further while the review is ongoing.
