Paystack Scandal: Ezra Olubi Suspended

Introduction

Nigeria’s fintech industry is experiencing one of its most significant accountability moments in history. Paystack, the payment processing giant that revolutionized digital transactions across Africa, has suspended its co-founder and Chief Technology Officer, Ezra Olubi, for alleged sexual misconduct involving a subordinate. This development has sparked intense conversations about leadership ethics, workplace culture, and accountability in Africa’s booming tech ecosystem.

The controversy began on November 12, 2025, and quickly escalated as both fresh allegations and decade-old social media posts came to light. For a company that was acquired by Stripe for $200 million in 2020 and serves over 200,000 businesses across Africa, this scandal represents a critical test of corporate values, transparency, and the industry’s commitment to creating safe workplaces.

What Happened: Complete Timeline of Events

Wednesday, November 12, 2025: The First Allegation

The crisis started brewing on Wednesday when an individual known on social media as Max Obae (pseudonym Maki) posted serious allegations about a tech leader’s conduct. While the initial posts did not name Olubi directly, observers in Nigeria’s close-knit tech community quickly connected the dots to Paystack’s CTO.

According to reports, Max Obae alleged manipulation, abusive behavior, and disturbing misconduct patterns during and before their relationship. The allegations included claims about inappropriate relationships with subordinates and concerning workplace dynamics.

Thursday, November 13, 2025: Old Posts Surface and Go Viral

Within 24 hours, internet users began digging through Olubi’s social media history. Posts dating back to between 2009 and 2013 resurfaced, containing sexually explicit content and inappropriate references that drew widespread condemnation. These posts, made years before Paystack was founded, spread rapidly across X (formerly Twitter) and other platforms.

The hashtag #EzraOlubi quickly trended nationwide, accumulating over 180,000 posts within the first day. Public outcry intensified as more people discovered the content of these old posts.

Thursday Evening: Olubi Deactivates Social Media

As the controversy grew, Ezra Olubi deactivated his X account. However, screenshots of the controversial posts continued to circulate widely across Nigerian social media platforms.

Friday, November 14, 2025: Paystack Issues Official Statement

In response to mounting pressure and widespread public discussion, Paystack issued an official statement confirming the suspension. The company stated: “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 emphasized its commitment to a thorough, fair, and transparent investigation process led by Paystack’s Board with an independent third-party investigator.

Understanding the Allegations: What We Know

Nature of the Accusations

The allegations against Olubi fall into several categories:

Sexual misconduct involving a subordinate – The primary allegation that prompted Paystack’s immediate action
Inappropriate workplace behavior – Claims about conduct with colleagues and junior staff
Historical social media posts – Decade-old tweets containing sexually explicit and inappropriate content
Pattern of manipulative behavior – Allegations from a former partner about controlling and abusive conduct

The Resurfaced Social Media Posts

The old posts that resurfaced include disturbing references and inappropriate jokes about colleagues, minors, and sexual conduct. While these posts were made over a decade ago, before Paystack was founded, they have reignited discussions about accountability for past behavior, especially for leaders in positions of influence and power.

Public Response and Calls for Action

Beyond Paystack’s internal investigation, prominent Nigerians have called for police involvement. Human rights lawyer Deji Adeyanju publicly requested that the Nigeria Police Force open a formal investigation into the allegations.

Some citizens have even launched online petitions calling for the revocation of Olubi’s 2022 Officer of the Order of the Niger (OON) national honor, which he received for contributions to technology and youth empowerment.

Who is Ezra Olubi? The Rise of a Tech Pioneer

Born on November 12, 1986, Ezra Olubi is an accomplished IT expert, software engineer, mobile app developer, and entrepreneur. He graduated from Babcock University in Nigeria, where he studied computer science alongside Shola Akinlade, his future co-founder.

Career Before Paystack

Before founding Paystack, Olubi worked with several technology companies including:

North Ocean Logistics and Solutions Limited
Softcom Limited Nigeria
Jobberman Limited
Delivery Science Incorporation
Alexander Haring Limited

The Paystack Journey

In 2015, Olubi co-founded Paystack alongside Shola Akinlade with a mission to make payments easy for businesses in Africa. The company grew rapidly, becoming Nigeria’s leading payment infrastructure provider.

By 2020, Paystack had become so successful that Stripe, the American payment processing giant, acquired the company for $200 million. This acquisition was one of the largest tech deals in African history and put Nigeria’s tech ecosystem on the global map.

Recognition and Awards

Olubi’s contributions to technology earned him numerous accolades:

Officer of the Order of the Niger (OON) in 2022
Recognition as one of Nigeria’s leading young tech entrepreneurs
Speaker at major tech conferences across Africa
Mentor to young developers and startup founders

Today, Paystack processes billions of naira in transactions daily for over 200,000 businesses across Nigeria, Ghana, and South Africa.

The Broader Impact on Nigeria’s Tech Ecosystem

A Growing Pattern of Accountability Issues

Olubi’s case adds to a troubling pattern of controversies in Nigeria’s tech ecosystem. The industry has faced several high-profile scandals in recent years:

Patricia (2023): The crypto startup blamed a “hack” for freezing customer withdrawals, but investigations revealed possible mismanagement and misappropriated funds
OurPass (2025): Reports of unpaid salaries and employees leaving the company
Multiple startups: Cases of financial mismanagement, poor corporate governance, and workplace issues

These incidents highlight the urgent need for better corporate governance structures and stronger accountability mechanisms in Nigerian tech companies.

Why This Case is Different

The Paystack-Olubi situation stands out for several reasons:

Company Stature: Paystack is not just any startup. It’s a Stripe-owned, globally recognized company that serves hundreds of thousands of businesses.
Swift Action: Unlike some previous cases where companies were slow to respond, Paystack acted immediately to suspend Olubi and launch an investigation.
Public Scrutiny: The scale of public attention, with over 180,000 social media posts in 24 hours, shows how seriously Nigerians are taking workplace misconduct.
Precedent Setting: How Paystack handles this could set important standards for how African tech companies address similar allegations in the future.

Impact on Investor Confidence

Nigeria’s tech ecosystem attracted significant investment in recent years, with the fintech sector alone securing over $2 billion in 2024. However, repeated scandals could affect investor confidence. International investors are watching closely to see how Nigerian companies handle governance and accountability issues.

What This Means for Workplace Culture in Nigerian Tech

The Culture Problem

Nigeria’s tech industry has long celebrated “hustle culture” and eccentric genius. However, this case forces a reckoning: Can the industry continue to tolerate inappropriate behavior from leaders simply because they’re technically brilliant or commercially successful?

Presidential aide Gimba Kakanda commented on the cultural narrative around unconventional genius, suggesting that society’s tolerance for eccentric behavior from tech leaders needs serious reassessment.

Paystack’s Stated Values vs. Reality

Paystack has long emphasized values such as transparency, clear communication, and kindness in its employer branding. The company has consistently received positive reviews from former staff about its workplace culture.

However, the resurfaced posts and current allegations have prompted scrutiny about how companies ensure their leaders actually embody the values they promote. It’s not enough to have values on paper; they must be lived consistently at all levels of leadership.

The Power Dynamics Issue

One of the most concerning aspects of the allegations involves conduct with a subordinate. This highlights the critical issue of power dynamics in workplace relationships. When leaders hold significant power over employees’ careers and livelihoods, any romantic or sexual relationship raises serious questions about consent and coercion.

Many progressive tech companies now have strict policies prohibiting relationships between supervisors and direct reports precisely because of these power dynamics.

Industry Reactions and Expert Commentary

Tech Community Response

The Nigerian tech community’s response has been mixed but largely supportive of accountability:

Many praised Paystack for taking swift action
Some questioned why the company didn’t have better screening processes
Others expressed concern about how this affects the reputation of Nigerian tech globally
Several called for industry-wide reforms in corporate governance

Calls for Systemic Change

Beyond this individual case, many industry observers are calling for:

Better background checks for senior leadership positions
Mandatory training on workplace conduct and power dynamics
Independent ethics boards within tech companies
Clearer reporting mechanisms for workplace misconduct
Industry-wide standards for handling allegations

The Gender Dynamics

This case has also sparked conversations about gender dynamics in Nigeria’s male-dominated tech industry. Women in tech have long reported experiencing harassment, discrimination, and hostile work environments. This scandal provides an opportunity to address these systemic issues.

What Happens Next: The Investigation Process

Paystack’s Commitment to Transparency

Paystack has stated that it will conduct a thorough investigation through an independent third-party investigator appointed by the company’s Board. This approach helps ensure impartiality and credibility.

The company has committed to:

A fair and transparent process
Full confidentiality to protect all parties involved
A comprehensive review of all allegations
Appropriate action based on investigation findings

Potential Outcomes

Depending on the investigation’s findings, several outcomes are possible:

Reinstatement – If allegations are not substantiated
Termination – If misconduct is confirmed
Negotiated Exit – A separation agreement
Legal Action – Either by the company or affected parties
Police Investigation – If criminal conduct is found

Timeline Expectations

While Paystack has not provided a specific timeline, thorough workplace investigations typically take several weeks to a few months. The company has stated it will not comment further until the investigation is complete.

Lessons for Nigeria’s Tech Ecosystem

1. Leadership Character Matters as Much as Technical Brilliance

Technical skills and business acumen are important, but character and ethical conduct are non-negotiable. The industry must move beyond celebrating “genius” at the expense of basic human decency and professional conduct.

2. Past Behavior is Relevant

While people can change, patterns of inappropriate behavior, even from years ago, are relevant when evaluating leadership fitness. Companies need to take social media histories seriously during hiring and promotion decisions.

3. Zero Tolerance for Workplace Misconduct

Regardless of a person’s contributions to a company’s success, there must be zero tolerance for sexual misconduct, harassment, or abuse of power. No one is too valuable to be held accountable.

4. Robust Corporate Governance is Essential

Startups must establish strong governance structures from day one. This includes:

Clear codes of conduct
Anonymous reporting mechanisms
Regular training on workplace behavior
Independent oversight boards
Transparent investigation processes

5. Culture Must Be Intentionally Built

Healthy workplace culture doesn’t happen by accident. It requires intentional effort, consistent enforcement of standards, and leadership that models appropriate behavior.

6. Diversity and Inclusion Matter

More diverse leadership teams are better equipped to identify and address problematic behavior. Companies should actively work to increase representation of women and other underrepresented groups in leadership positions.

How This Affects Stakeholders

For Paystack Employees

Current Paystack employees are likely experiencing uncertainty and concern. The company must:

Communicate transparently about the investigation process
Provide support resources for affected employees
Reassure staff about the company’s commitment to a safe workplace
Address any broader culture concerns that may surface

For Paystack Customers

Business customers processing payments through Paystack need reassurance that:

Services will continue uninterrupted
The company’s technical operations remain strong
Leadership transition, if needed, will be smooth
Their data and transactions remain secure

For Investors and Stripe

As Paystack’s parent company, Stripe likely has significant interest in how this situation is handled. The outcome could influence:

Future investment decisions in African tech
Acquisition strategies and due diligence processes
Corporate governance requirements for portfolio companies

For Nigerian Tech Startups

Other tech companies are watching closely. This case provides valuable lessons about:

The importance of ethical leadership
How to handle misconduct allegations
Building strong corporate governance
Creating accountability mechanisms

The Path Forward: Rebuilding Trust and Accountability

For Paystack

The company faces the challenge of:

Completing a credible investigation
Taking appropriate action based on findings
Rebuilding trust with employees and stakeholders
Strengthening internal policies and processes
Demonstrating commitment to a safe workplace

For the Nigerian Tech Industry

The broader ecosystem must:

Establish industry-wide standards for workplace conduct
Create support networks for reporting misconduct
Develop better corporate governance frameworks
Invest in leadership training and development
Build a culture of accountability

For Aspiring Tech Leaders

Young entrepreneurs and leaders should:

Understand that all behavior, online and offline, matters
Recognize the responsibility that comes with leadership
Commit to ethical conduct in all professional relationships
Build companies with strong values from day one
Create inclusive, respectful workplace cultures

Conclusion: A Critical Moment for Nigerian Tech

The suspension of Ezra Olubi marks more than just a scandal at one company. It represents a watershed moment for Nigeria’s entire tech ecosystem. The industry stands at a crossroads: it can continue celebrating success while overlooking serious behavioral issues, or it can mature into an ecosystem that holds leaders accountable regardless of their technical brilliance or commercial achievements.

Nigeria’s tech sector has accomplished remarkable things. From Paystack to Flutterwave, Interswitch to Moniepoint, Nigerian fintech companies have revolutionized digital payments across Africa. The ecosystem has produced five of Africa’s seven tech unicorns and attracted billions in investment. But sustainable success requires more than just financial milestones and technical innovation.

True success means building companies with strong ethical foundations, safe workplaces, and leaders who embody the values they espouse. It means creating an industry where talent can thrive regardless of gender, background, or connections. It means zero tolerance for abuse of power, harassment, or misconduct at any level.

As Paystack’s investigation unfolds, the entire African tech community is watching. The outcome will likely influence how similar situations are handled across the continent for years to come. It’s an opportunity for Nigeria’s tech ecosystem to demonstrate that it can uphold the highest standards of professional conduct and corporate responsibility.

The future of Nigerian tech depends not just on coding skills and business models, but on the character and integrity of its leaders. This moment calls for reflection, reform, and renewed commitment to building an ecosystem where everyone can work safely, contribute meaningfully, and succeed based on merit and talent rather than navigating toxic workplace dynamics.

Nigeria’s tech industry has the potential to lead Africa’s digital transformation. But it can only achieve that potential by ensuring that innovation and ethics go hand in hand, that success and accountability are inseparable, and that every workspace is safe, respectful, and inclusive.

The Paystack-Olubi case is a test. How Nigeria’s tech ecosystem responds will determine whether it continues to mature into a truly world-class industry or remains held back by the very leadership failures that have plagued traditional sectors for decades.

Your Role in Tech Accountability

Whether you’re a tech professional, entrepreneur, investor, or consumer of tech products, you have a role to play in building a better tech ecosystem:

If You’re a Tech Professional:

Speak up when you witness inappropriate behavior
Support colleagues who report misconduct
Advocate for strong workplace policies
Hold leaders accountable

If You’re a Startup Founder:

Build strong governance from day one
Create safe reporting mechanisms
Invest in leadership training
Model ethical behavior consistently

If You’re an Investor:

Ask about governance during due diligence
Require strong workplace policies
Support companies that prioritize culture
Hold portfolio companies accountable

If You’re a Consumer:

Support companies with strong values
Speak out about concerning behavior
Demand accountability from the platforms you use
Vote with your wallet and attention

Learn More About Building Better Tech Companies

At Kinplus Technologies, we believe that building successful tech companies requires more than just technical skills. We provide training and solutions that help individuals and organizations develop both the technical capabilities and ethical leadership needed for sustainable success in tech.

Want to Stay Connected with Nigeria’s Tech Community?

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Frequently Asked Questions (FAQs)

Q: Has Ezra Olubi been formally charged with a crime? A: No. As of November 2025, there are no formal criminal charges. Paystack has suspended him pending an internal investigation, and some public figures have called for police involvement, but no official criminal investigation has been announced.

Q: Will this affect Paystack’s services to customers? A: Paystack has not indicated any disruption to services. The company continues to operate normally while the investigation proceeds.

Q: What happens to Olubi’s shares in Paystack? A: This has not been publicly addressed. Ownership questions would depend on the investigation outcome and any resulting agreements or legal actions.

Q: Is this the first misconduct scandal in Nigerian tech? A: No. Nigeria’s tech ecosystem has faced several scandals in recent years involving financial mismanagement, workplace issues, and other governance problems. However, this is one of the highest-profile cases involving a co-founder of a major, internationally-recognized company.

Q: How common are these issues in tech companies? A: Workplace misconduct occurs across industries globally. The tech industry, particularly in high-growth environments, has faced criticism for “bro culture” and tolerance of inappropriate behavior from high-performers. Many companies worldwide are working to address these issues.

Q: What can employees do if they experience workplace misconduct? A: Employees should document incidents, report through official channels if safe to do so, seek support from HR or ethics teams, consult with legal professionals, and consider reporting to authorities if criminal behavior is involved.

Verified Sources and References

This article is based on verified information from the following trusted sources:

TechCabal – Leading African tech publication
- https://techcabal.com/2025/11/14/paystack-suspends-ezra-olubi/
Nairametrics – Nigerian business and financial news
- https://nairametrics.com/2025/11/14/inside-ezra-olubi-suspension-how-old-tweets-personal-allegations-landed-paystacks-co-founder-in-trouble/
Vanguard News – Major Nigerian newspaper
- https://www.vanguardngr.com/2025/11/old-tweets-spark-outrage-as-paystack-suspends-ezra-olubi/
Techpoint Africa – African tech ecosystem coverage
- https://techpoint.africa/news/paystack-cto-ezra-olubi-suspended/
Premium Times – Nigerian investigative journalism
- https://www.premiumtimesng.com/entertainment/naija-fashion/835460-paystack-suspends-co-founder-ezra-olubi-amid-sexual-misconduct-other-allegations.html
Punch Newspapers – Nigerian daily newspaper
- https://punchng.com/sexual-allegations-police-urged-to-probe-suspended-paystack-co-founder/
WeeTracker – African tech and startup news
- https://weetracker.com/2025/11/14/paystack-ezra-olubi-suspended-sexual-misconduct-allegations/

#NigerianTech #Paystack #TechAccountability #WorkplaceCulture #StartupNigeria #Fintech #CorporateGovernance

Disclaimer: This article presents factual information from verified news sources about ongoing allegations and investigations. No conclusions about guilt or innocence are made. All individuals are presumed innocent until proven otherwise through appropriate legal processes.