On Sunday, 23 November, Olubi published a blog post stating that Paystack ended his employment while an investigation into allegations of sexual misconduct with a subordinate was still ongoing. According to him, the company neither concluded its inquiry nor allowed him to speak to the claims.
“I was dismissed before the supposed investigation was concluded, and without any meeting, hearing, or opportunity to respond,” he wrote, adding that the action contradicted internal policies he helped draft.
Olubi said his legal team is now reviewing whether the process leading to his termination aligned with Paystack’s established procedures. He did not elaborate on the allegations themselves, only noting that decade-old tweets resurfacing online “do not reflect [his] conduct.”
The shockwaves from Paystack’s abrupt termination of its co-founder, Ezra Olubi, are still rippling through the African tech ecosystem, not just because of the allegations involved, but because of how the process unfolded. In a rare move for a high-profile startup, Paystack dismissed one of its own founders mid-investigation, sparking questions about internal governance, consistency, and how tech companies handle misconduct claims at the leadership level.
A Timeline Marked by Speed and Silence
Allegations first circulated in mid-November via an anonymous online post, prompting renewed attention to several old tweets attributed to Olubi. Shortly after, Paystack announced that he had been suspended and that an “independent reviewer” would lead a formal investigation.
What remains unclear and what Olubi’s statement intensifies is whether that investigation had meaningfully begun.
Paystack has yet to respond to the co-founder’s claims or clarify whether:
- The review was completed,
- Olubi was interviewed,
- and any findings were reached before the dismissal.
As of the time of publication, the company had not replied to any requests for an official statement.
A Stress Test for Paystack’s Reputation
For nearly a decade, Paystack has been one of Africa’s most celebrated tech success stories, praised for discipline, transparency, and culture, especially following its landmark 2020 acquisition by Stripe. An employment dispute at the very top now places unusual scrutiny on how those values are applied when the subject of an inquiry is a co-founder.
While Olubi’s statement focuses squarely on the process rather than the substance of the accusations, the situation raises broader questions for the sector:
- How should African startups balance optics with due process?
- What does accountability look like when senior leadership is involved?
- And what happens when governance frameworks are tested under pressure?
A Developing Story With High Stakes
The incident comes at a moment when African tech companies are under increasing pressure to demonstrate strong internal governance and clear HR protocols, especially in cases involving harassment or misconduct.
Whatever Paystack says or doesn’t say in the coming days will likely shape how employees, founders, and the wider ecosystem perceive its leadership and culture. For now, the absence of clarity leaves a vacuum filled with speculation and uncertainty.
What’s evident is that this episode is no longer just about a co-founder’s dismissal. It has become a broader test of how Africa’s most influential tech companies manage accountability, transparency, and the increasingly complex intersections of reputation and governance.
