Nigerian fintech giant Paystack has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following resurfaced allegations of sexual misconduct, having sexual relations with a subordinate at work and inappropriate online behaviour. The allegations surfaced after an ex-lover made damning accusations during a two-part tell-all live voice chat on X (formerly Twitter), prompting widespread public outrage and a rapid review of Olubi’s past digital activity.
The controversy escalated when archived tweets allegedly authored by Olubi between 2009 and 2013 began circulating on X. The posts contained sexually explicit remarks, references to minors, and comments involving sexualized anime characters. The tweets predate Paystack’s founding but have triggered renewed debate about accountability, digital footprints, and leadership conduct in Africa’s tech ecosystem.
Paystack, one of Africa’s most influential fintech companies, confirmed on Thursday that Olubi has been removed from all operational responsibilities pending the outcome of a formal investigation.
“Paystack is aware of the allegations involving our Co-founder, Ezra Olubi. We take matters of this nature extremely seriously. Effective immediately, Ezra has been suspended from all duties and responsibilities pending the outcome of a formal investigation,” the company said in an official statement.
Olubi has not issued a public response. His X account was deactivated on November 13, shortly after the old posts resurfaced.
A high-profile scandal in a high-stakes sector
Olubi is a prominent figure in Nigeria’s tech scene, known both for his technical leadership and his unconventional public persona. In 2022, he received a national honour, the Order of the Niger (OON), from former President Muhammadu Buhari, strengthening his visibility in the fintech space.
His suspension marks one of the most high-profile misconduct investigations in African fintech to date. It comes at a time when global investors are increasingly demanding stronger corporate governance, executive accountability, and risk controls from African startups.
The response is being closely watched, not only because of Olubi’s stature but also due to Paystack’s position as one of the continent’s most important payment infrastructure companies. Acquired by Stripe in 2020 and integrated into the global payments giant’s ecosystem, Paystack processes billions in annual transactions across Nigeria, Ghana, Kenya, and South Africa.
Industry analysts tell Techsudor that the situation could influence how global partners evaluate leadership vetting, compliance protocols, and reputational risk in African fintech deals going forward.
A national climate of heightened sensitivity
The scandal also coincides with a period of heightened national concern over child abuse. Nigeria has seen a wave of cases involving minors trigger public outrage over the past year, putting additional pressure on institutions to act decisively.
Just last month, the Nigerian Senate passed sweeping amendments to the Criminal Code Act, strengthening penalties for sexual offences involving minors. Key provisions include:
- Life imprisonment for anyone convicted of defiling a minor.
- No option of fines in child-defilement cases.
- A ten-year minimum sentence for rape, applicable regardless of gender.
- Elimination of the statute of limitations on child-defilement offences.
- Removal of gender bias in the legal definition of rape.
The amendments to the Criminal Code (Amendment) Bill, 2025 (HB 151) reflect a broader societal shift toward stricter child protection norms. Legal experts say this climate may intensify expectations for corporate entities to demonstrate zero tolerance for misconduct involving minors.
A wake-up call for African tech governance
While Paystack has moved quickly, the case exposes long-standing gaps in the region’s approach to leadership accountability, especially around digital conduct predating company formation. With founders often becoming public faces of billion-dollar ecosystems, their personal histories online and offline increasingly carry organisational implications.
The incident adds to ongoing industry conversations about:
- Leadership vetting and reputation risk management
- Workplace conduct policies in rapidly growing startups
- The role of investors in enforcing governance standards
- The need for crisis-management frameworks in African tech companies
For an ecosystem fighting to maintain global trust amid regulatory pressures, the Paystack-Olubi investigation is more than a personal scandal; it is a governance stress test with implications far beyond one company.
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