Paystack, the Nigerian fintech company owned by Stripe, has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following an allegation of sexual misconduct involving a subordinate.
The controversy erupted on social media on Wednesday after an individual who previously had a relationship with Olubi shared personal accusations online.
This triggered renewed scrutiny of several disturbing tweets Olubi posted between 2009 and 2013, many of which contained sexually suggestive remarks involving colleagues and minors. After the backlash, Olubi deactivated his X account.
Some of the resurfaced tweets drew massive criticism, including one that said, “I judge my female friends by the sound of their pee make. Thanks to the audio in my bathroom,” and another that read, “Save water. Take a bath with your neighbour’s daughter.”
A tweet from May 23, 2011, also resurfaced, stating: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
According to a report by TechCabal on Friday, Paystack confirmed that a formal investigation has begun.
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 firm added that no further statements would be issued until the process is concluded.
“Out of respect for the individuals involved and to protect the integrity of the process, we will not be commenting further until the investigation is complete,” Paystack said.
Founded in 2015 by Ezra Olubi and Shola Akinlade, Paystack has become one of Africa’s leading payment companies, offering digital and offline payment solutions to thousands of businesses.
It was the first Nigerian startup accepted into Y Combinator in 2016 and later achieved a major milestone when Stripe acquired it in 2020 for over US$200 million.
Olubi, as CTO and co-founder, played a central role in developing the company’s technology framework, enabling its growth across Nigeria and other African markets.
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