Nigerian fintech company Paystack has terminated the employment of its co-founder and long-serving technical leader, Ezra Olubi, following a board-initiated investigation into allegations circulating online about his conduct.
Olubi, who had been suspended by the Paystack Board earlier this month as part of what the company described as an “independent” review, said he chose not to make public statements during the process to avoid interfering with the investigation. In a statement released on Monday, Olubi said that his silence created a vacuum that allowed assumptions and misrepresentations to circulate unchecked.
“Those who know me personally or professionally understand that the posts being circulated do not reflect my conduct or the way I have lived my life,” Olubi said. “I have always, to the best of my ability, conducted myself in a manner that respects everyone’s dignity and safety.”
Olubi disclosed that he was informed of his termination on Saturday, 22 November 2025. He said the decision was made before the investigation was concluded and without a meeting, hearing, or opportunity to respond to the issues raised, which he claims contravenes both the terms of his suspension and Paystack’s internal policies.
As a co-founder and board member, Olubi said he had engaged with the investigation in good faith and fully cooperated with the directives of the Paystack Board.
“My legal team is now reviewing the process that led to my purported termination, including its consistency with internal policies. They will take the steps they consider appropriate, and I will not be commenting further on this matter at this time,” Olubi said.
Paystack has not released a statement regarding Olubi’s termination beyond confirming that an internal review was ongoing.