Paystack Suspends Co-Founder Ezra Olubi Over SexualMisconduct Allegations

Lagos, Nigeria
Nigerian fintech giant Paystack has suspended its cofounder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct involving a subordinate. The company said it has launched a formal internal investigation and is treating the matter “extremely seriously.”
The controversy erupted after finance professional Max Obae, known as “MakiSpoke,” accused Olubi of manipulation, abuse, and power imbalance in a past relationship. Public scrutiny intensified when archived tweets from Olubi, dating back to 2009, resurfaced.
These posts reportedly included inappropriate jokes about colleagues, references to photographing people’s thighs, and comments involving minors. A widely shared tweet from May 2011 read: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
Olubi deactivated his X (formerly Twitter) account on 13th November, 2025. Paystack said it will not comment further until the investigation concludes, stressing the need to protect the integrity of the process and respect those involved.
The episode has sparked broader discussions about leadership accountability in Africa’s fintech sector. Last month, Kenyan IT CEO Oscar Limoke was ordered by court to pay a former employee roughly US$10,000 for sexual harassment and assault, highlighting growing scrutiny on workplace misconduct across the continent.
Founded in Lagos in 2015, Paystack became one of the first Nigerian startups to join the Y Combinator accelerator. It was acquired by Stripe in 2020 for over US$200 million. Its team and alumni have gone on to create companies across fintech, logistics, and payments infrastructure.
Commentators say the resurfaced tweets clash with Paystack’s values of transparency and respect, and have raised questions about safeguards for handling misconduct by senior executives. How Paystack manages this investigation is being closely watched as a potential benchmark for governance in African tech.
This story is developing.