Nigerian fintech company, Paystack, has terminated the employment of its co-founder and Chief Technology Officer (CTO), Ezra Olubi, after public allegations that he had sexual relations with a junior employee.
Olubi announced the firing in a post on Saturday, saying that the decision came before the company completed its own findings.
Controversy began in mid-November when several X posts by Olubi suggesting explicit and queer sexual behaviour were dug up.
Paystack confirmed that it had suspended Olubi and opened a formal investigation, stating that it had established a review process and intended to appoint an independent investigator.
But in his post, Olubi said that he was not given a meeting or an opportunity to respond before his contract was ended and that the termination appeared to contravene the terms of his suspension and the company’s internal policies. He added that his legal team would explore possible steps in response.
He, however, hinted that if he is not satisfied with the manner his contract was terminated, he could be heading to court.
“Over the past few days, my name and reputation, built over years as co-founder and technical leader at Paystack, have been called into question because of information circulating online. In response, the Board of Directors of Paystack placed me on suspension and initiated what was described as an “independent” investigation,” he wrote.
“Once that process began, I chose not to make any public statements. I did this to avoid interfering with the investigation and because I expected a fair, thorough and unbiased review of the allegations being discussed online. This created a vacuum that allowed assumptions and misrepresentations to spread without challenge.
“Those who know me personally or professionally understand that the posts being circulated do not reflect my conduct or the way I have lived my life. I have always, to the best of my ability, conducted myself in a manner that respects everyone’s dignity and safety.
“On Saturday, 22 November 2025, I was informed that my employment had been terminated. This decision was taken before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond to the issues raised, in clear contravention of the terms of the suspension and Paystack’s own internal policies.
“As co-founder, technical leader and long-serving Board member, I have been part of instituting the systems and processes that underpin Paystack’s internal operations. I engaged with this investigation in good faith and cooperated fully with the Board’s directives on that basis.
“My legal team is now reviewing the process that led to my purported termination, including its consistency with internal policies. They will take the steps they consider appropriate, and I will not be commenting further on this matter at this time.”
