Paystack co-founder Ezra Olubi has alleged that the company wrongfully terminated his employment amid ongoing sexual-misconduct accusations, claiming the process violated internal policies he helped design. His comments have now intensified scrutiny on the celebrated African fintech giant.
In a detailed blog post published on Sunday, 23 November, Olubi said Paystack suspended him a week earlier while announcing what it called an “independent” investigation into allegations spreading online. According to him, the company dismissed him before the investigation was concluded and without any formal opportunity to present his defense.
He described the process as fundamentally flawed, stating that he was not invited to any meeting, given a hearing, or allowed to respond officially. He said this approach contradicted Paystack’s established procedures. “My legal team is now reviewing the process that led to my purported termination, including its consistency with internal policies,” he wrote, adding that he would not be commenting further at this time.
The allegations first gained traction in mid-November after an online post accused Olubi of inappropriate behavior with a junior employee. In response, social media users resurfaced decade-old tweets attributed to him, including one encouraging inappropriate workplace touching. These posts reignited conversations about conduct, leadership accountability, and online fairness.
Olubi, however, said the resurfaced posts “do not reflect my conduct or the way I have lived my life,” though he did not address each tweet directly. He maintained that the allegations circulating online misrepresent who he is, but he avoided engaging with the specifics of the accusations.
At the initial outbreak of the controversy, Paystack confirmed it had suspended Olubi and begun a formal inquiry. The company also stated its intention to appoint an independent reviewer. But Olubi now claims that the company terminated him before any conclusive findings were produced.
As of the time of publication, Paystack has not issued a public response to Olubi’s claims. It also remains unclear how far the internal review had progressed before the termination decision. TechCabal and other outlets have reached out for clarification, but the company has not yet replied.
Olubi’s new statement focuses heavily on what he calls irregularities in the disciplinary process rather than offering a point-by-point rebuttal of the misconduct allegations themselves. This has left observers divided: some emphasize due process and transparency, while others say the company must act swiftly when senior leadership is accused of wrongdoing.
Paystack, long regarded as one of Africa’s most admired and disciplined startups, now faces mounting pressure to maintain credibility. For nearly a decade, the company has been celebrated for its culture, operational excellence, and leadership integrity. This dispute, however, poses a significant challenge to those ideals.
Industry watchers say the coming weeks will be crucial. How Paystack handles the controversy — from clarifying investigative steps to communicating outcomes — will influence not just its internal culture but the broader tech ecosystem’s expectations for accountability when allegations involve top-ranking executives.
As the situation continues to develop, questions about transparency, fairness, and leadership responsibility remain at the forefront, with the fintech community closely observing Paystack’s next moves.
