Nigerian fintech giant Paystack has dismissed its co-founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct involving a junior employee.

The decision, confirmed by the company, comes two weeks after Olubi was suspended pending an independent investigation.

Olubi, 39, who co-founded Paystack in 2015 alongside CEO Shola Akinlade, announced his termination in a personal blog post on November 23 titled “SHIT EZRA SAYS Terminated.” He claimed the dismissal occurred before the investigation concluded and without a hearing, describing the move as a breach of Paystack’s internal policies. “In clear contravention of the terms of the suspension and Paystack’s own internal policies (I helped create), my employment has been terminated,” Olubi wrote, adding that his legal team is reviewing the process.

The controversy began in mid-November when a former associate accused Olubi of predatory behavior and a sexual relationship with a subordinate. Viral resurfacing of explicit tweets from 2009–2013 intensified public pressure, prompting Paystack to suspend him on November 13 and appoint an independent investigator.

Paystack, acquired by Stripe in 2020 for $200 million in what remains Africa’s largest fintech exit, has not commented publicly on the firing or Olubi’s claims. The case has reignited debates about workplace culture and accountability in Nigeria’s fast-growing tech sector, where similar scandals at firms such as Flutterwave and Moniepoint have spurred calls for stronger HR protocols.

Olubi, who received the Order of the Niger (OON) in 2022, played a central role in scaling Paystack to more than 200,000 merchants. His dismissal underscores broader concerns about due process, reputational risk, and power imbalances in startup ecosystems.