Ezra Olubi, Paystack Co-founder and Chief Technology Officer, has indicated that the decision to remove him of his duties at the company, where he played a critical part in helping the organisation achieve its remarkable heights, is unfair.
On Monday, November 24th, the tech industry was shocked to learn that Ezra’s appointment with Paystack had been terminated. The company initially announced that it would appoint an independent investigator to examine the sexual misconduct allegations against Ezra.
And according to the post on the blog, in which he had posted on Saturday, November 22, 2025, where he had learnt that my position had been terminated. The action taken was made before the alleged inquiry was completed, and without any discussion, hearing, or opportunity for me to react to the allegations highlighted, clearly violating the terms of the suspension and Paystack’s own internal procedures.”
Following the reports of Ezra’s suspension, the media interviewed Osita James Uche, Managing Partner at Blackcrest Law, who explained that the company’s subsequent decisions would be heavily influenced by the post-acquisition contract terms established when Stripe took over Paystack.
In Uche’s words, “usually, when there is a merger or acquisition, there might be clauses that state that the founders will stay back for a number of years to support operations.” He went on to say that “sometimes staying back is voluntary. If it was voluntary, it will be quite simple to remove him from his position if they discover he is guilty of any misbehaviour. However, if it was required under the contract, the situation becomes more complicated.”
He further explained that if the acquisition terms provided the founders with operational independence, board representation, or significant equity, they may retain sufficient leverage to impact the board’s conclusions once the investigation is complete.
“If he remains a significant shareholder and possibly a director, the final decision will have to be voted on by the board.” However, the board cannot vote unless the probe reveals something.”
Paystack appears to have opted to remove Ezra from his position in order to safeguard their brand name and send a strong signal that the organisation is highly interested in how employee conduct, both within and outside the organisation, affects its reputation.
In the post on the blog, Ezra Olubi claimed that he had no opportunity to defend myself.
Ezra wrote in a short blog post that internal protocols weren’t followed and that he was fired before the investigation was completed.
“As a co-founder and longtime board member involved in building Paystack’s internal systems, I engaged with the investigation in good faith and followed all board instructions.”
He pointed out that his legal team is currently reviewing the process that resulted in my alleged termination, including whether it aligns with internal policies. They will take the necessary steps, and I will not be making any further comments on this matter at present.
Ezra has decided to fight what he believes is an unjust firing and has enlisted the help of his legal team.
The media later contacted Paystack for comment, but had yet to get a response as of the time of writing.
Olubi’s job was terminated following public outrage over a series of his previous, controversial tweets (from roughly 2010-2013) that reappeared online, some of which contained sexually explicit jokes and insults against coworkers, kids, and animals.
Olubi claimed in a public statement that the termination was unfair since it occurred prior to the completion of the company’s “independent” investigation into workplace wrongdoing. He believes he was denied a meeting, hearing, or opportunity to reply to the allegations mentioned, which he claims violates the terms of his suspension and Paystack’s internal procedures. He believes that the rediscovered posts do not reflect his true nature or behaviour.
On the other hand, Paystack which is a regulated company acquired by Stripe in 2020, confirmed the dismissal, citing the “significant negative reputational damage” caused by the disclosed comments. The company emphasized that, as a financial institution, it must act swiftly when conduct threatens to undermine trust. Paystack also clarified that the termination due to reputational harm is separate from the ongoing independent investigation into workplace misconduct allegations, which is being conducted by the external law firm Aluko & Oyebode.
Olubi’s legal team is currently investigating the process of his termination and its compliance with company regulations, and will take “appropriate” action in response.
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