Paystack, the Nigerian fintech powerhouse, has terminated the contract of its co-founder and Chief Technology Officer, Ezra Olubi, following serious allegations of sexual misconduct involving a subordinate, triggering a major reputational crisis for the company.
The controversy erupted on November 12, 2025, when a social media user identified as “Maki” publicly accused Olubi of inappropriate behavior toward women who worked with him. According to Maki, Olubi “sleeps with his female subordinates” and exerts manipulative control in intimate relationships, allegations that went viral almost immediately.
In response, Paystack confirmed that it had suspended Olubi from all duties, citing the seriousness of the claims. The company said it had initiated a “fair, transparent, and structured” internal review process, led by its board and guided by its internal policies and core values. Paystack also stated that, “out of respect for the individuals involved and to protect the integrity of the process,” it would withhold further comment until the investigation is concluded.
The situation escalated quickly when old social media posts by Olubi resurfaced. Tweets archived from between 2009 and 2013, predating the founding of Paystack in 2015, contained sexually explicit content, references to minors, and disturbing remarks about colleagues, especially those encouraging inappropriate behaviour. Other tweets reportedly mentioned erections during meetings, photographing coworkers’ thighs, and sexualised anime imagery. Olubi’s X (formerly Twitter) account was deactivated on November 13, 2025, deepening speculation and fueling online anger.
Beyond internal review, some public figures are demanding external legal scrutiny. Human rights lawyer Deji Adeyanju has urged the Nigerian Police Force to open a formal criminal investigation, citing relevant statutes under the Criminal Code Act and other laws. Meanwhile, an online petition has been launched to strip Olubi of his national honor — the Officer of the Order of the Niger (OON) — a title he received in 2022.
Paystack, co-founded by Olubi and Shola Akinlade in 2015, has grown into one of Africa’s most prominent fintech startups. It was acquired by global payments giant Stripe in 2020 in a deal valued at around US$200 million. Because of its rapid growth, global backing, and influential status in African tech, the current investigation represents more than just a personnel issue, it’s a potential governance reckoning.
The allegations are at a deviance to what Paystack has shown to embody over many years: innovation, integrity, and progressive leadership. And while the termination of Olubi’s contract with the company is a good first step, many Nigerians continue to observe, with quiet scrutiny, how the situation unfolds in months to come.
Samuel Aina