Ezra Olubi Scandal: Why Paystack Suspended Its Co-Founder in 2025

In one of the most shocking developments in Nigeria’s tech ecosystem, Paystack—a leading fintech giant—suspended its co-founder and Chief Technology Officer, Ezra Olubi, in November 2025 following serious allegations of sexual misconduct. The news sent tremors through the African startup community, raising urgent conversations about leadership accountability, workplace ethics, and the fragile nature of public trust in tech founders.

What Triggered the Scandal?

The controversy began when allegations surfaced online claiming that Olubi had engaged in inappropriate conduct with a subordinate. As discussions spread across social media, archived tweets and old posts attributed to the co-founder began circulating—many of them containing sexually explicit remarks, comments involving minors, and inappropriate jokes made years ago. These posts intensified public outrage, forcing Paystack to take immediate action.

The company responded swiftly with an official announcement confirming that Ezra Olubi had been suspended from all duties and responsibilities pending a formal investigation. According to Paystack, the decision was driven by the need to maintain transparency, uphold corporate ethics, and ensure a fair review of the allegations.

Paystack’s Official Response

Paystack emphasized that it “takes matters of this nature extremely seriously” and moved to appoint an independent third-party investigative body to handle the case. The company also refrained from sharing too many details, citing the need to protect the integrity of the investigation and safeguard the privacy of all parties involved.

For a fintech company built heavily on trust, professionalism, and brand reputation, the suspension was a strategic and necessary step to show zero tolerance for misconduct—especially at the highest level of leadership.

Why This Scandal Matters

The Ezra Olubi scandal raises broader questions that extend far beyond Paystack:

1. Tech Leadership Scrutiny:- African tech leaders are now in the global spotlight. Behaviour—past or present—can have immediate business consequences.
2. Corporate Governance:- Startups scaling as fast as Paystack must strengthen internal structures to address misconduct, power imbalances, and ethical breaches.
3. Reputation & Investor Confidence;- Fintech thrives on trust. A leadership scandal can impact user confidence, partner relationships, and investor perspectives on governance.
4. Digital Footprint Accountability:- Old tweets and archived posts continue to shape reputations, even years after they were made. This scandal underscores the permanence of online behaviour.

What Happens Next?

The outcome of the investigation will determine the future of Ezra Olubi within the company and possibly within the wider tech landscape. If the allegations are substantiated, the suspension could turn into a permanent exit and potential legal action. If not, Paystack will be tasked with rebuilding public trust after a highly publicized scandal.

Either way, the situation marks a defining moment for Nigeria’s tech ecosystem—a reminder that growth must go hand-in-hand with ethics, transparency, and strong workplace culture.