Ezra Olubi, a central figure in Paystack’s rise, was placed on leave following serious allegations of sexual misconduct involving a subordinate. The company confirmed publicly that it had initiated a formal investigation, describing the matter as “extremely serious.
What reignited scrutiny, however, were years-old social media posts from Olubi, dating between 2009 and 2013, that resurfaced online. These tweets long before Paystack was founded contained disturbing references: explicit comments about co-workers, mentions of minors, and jokes about inappropriate behaviour.
In response, Paystack’s board moved swiftly. An independent, third-party investigator is being appointed to lead a “fair, transparent, and structured” review process. Olubi’s X account has since been deactivated, and he has not made a public statement.
For Paystack, the stakes are enormous. Since its founding in 2015, the company has become a cornerstone of African payments infrastructure. In 2020, it was acquired by Stripe in a landmark deal, cementing its status as a regionally influential player. The way this investigation unfolds could set a new benchmark for leadership accountability, governance, and workplace culture across African tech.
There is a broader reckoning underway, one that extends beyond Paystack. The resurfaced tweets and the misconduct allegations echo larger conversations about ethics and power in high-growth African startups. Investors, regulators, and employees alike are watching closely. How companies handle such moments especially when top executives are involved is becoming a litmus test for maturity in the ecosystem.
