In a dramatic move that has sent shockwaves through Nigeria's technology sector, fintech giant Paystack has terminated the employment of its Co-founder and Chief Technology Officer, Ezra Olubi. This decisive action comes amidst a raging controversy over public allegations that Olubi engaged in sexual relations with a junior employee.
The Escalating Controversy
The crisis began gaining significant traction in mid-November when a social media post alleging abusive behaviour went viral across Nigerian digital platforms. The viral post prompted users to resurface a series of explicit tweets that Olubi had posted between 2009 and 2013, which many observers characterized as containing sexually explicit jokes and predatory remarks.
Paystack initially responded to the growing public outcry by confirming Olubi's suspension and announcing that an independent investigator would lead a formal review of the allegations. The company, which was acquired by Stripe in 2020 in one of Africa's most landmark exits, faced intensified scrutiny as screenshots of Olubi's old posts continued circulating online.
Olubi's Response and Allegations of Procedural Breach
In a surprising development on Saturday, November 23, Olubi revealed through a blog post that Paystack had terminated his employment before the company's independent investigation had concluded. The co-founder claimed he was dismissed without a meeting or an opportunity to respond to the allegations against him.
Olubi described the termination as inconsistent with both the terms of his initial suspension and the company's internal policies. He indicated that his legal team would take appropriate steps in response to what he perceived as procedural irregularities, though he noted he would not be commenting further on the matter at this time.
Broader Implications for Nigeria's Tech Ecosystem
This case has reignited crucial conversations about workplace accountability, ethical leadership, and corporate governance across Africa's rapidly growing technology ecosystem. The termination of such a high-profile co-founder marks one of the most significant corporate responses to allegations of sexual misconduct in Nigeria's tech history.
Paystack has maintained silence since Olubi's blog post was published, and it remains unclear whether Stripe, its parent company, will issue any statement regarding the termination. The situation continues to develop, with potential legal action from Olubi possibly leading to new disclosures or court proceedings that could shed additional light on Paystack's decision-making process.
The controversy represents a critical test for corporate governance standards within Nigeria's burgeoning technology sector, which has attracted significant international investment in recent years. Industry observers are closely watching how this situation will influence policies around workplace conduct and executive accountability across other African tech companies.
