Paystack, the leading African payment platform, has taken swift action by suspending its co-founder and Chief Technology Officer, Ezra Olubi, following serious allegations of sexual misconduct.
The allegations, which have sparked widespread outrage online, involve claims of inappropriate behavior towards a junior staff member. In response to the viral accusations, Paystack launched an internal investigation and immediately removed Olubi from all duties.
This unexpected scandal casts a troubling shadow over the company known for its innovation in fintech. Details remain scarce as the investigation continues, but the incident raises significant concerns about workplace culture and leadership accountability at Paystack. Olubi has yet to address the allegations publicly.
Punch reports 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 company said in a confirmation statement made to TechCabal.
The firm added that it would not be offering further comments while the process is ongoing.
“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.
Paystack, founded in 2015 by Ezra Olubi and Shola Akinlade, is a leading Nigerian fintech company providing online and offline payment infrastructure to businesses across Africa.
The company was the first Nigerian startup accepted into the prestigious Y Combinator accelerator in 2016, and it rapidly grew to serve tens of thousands of merchants.
In 2020, Paystack was acquired by global payments giant Stripe for over US$200 million,
