Paystack Fires Co-Founder Ezra Olubi Over ‘Significant Reputational Damage’ from Resurfaced Tweets
By Ndefo Onyekachukwu | November 24, 2025
Paystack, the Stripe-owned Nigerian payments giant, has terminated the employment of its co-founder and former Chief Technology Officer, Ezra Olubi, citing “significant negative reputational damage” caused by resurfaced tweets from over a decade ago.
The decision, announced on November 24, 2025, follows Olubi’s suspension on November 13 amid allegations of sexual misconduct and the viral resurfacing of explicit tweets from 2009–2013.
Olubi, who co-founded Paystack in 2015 with Shola Akinlade and helped scale it to a $200M+ acquisition by Stripe in 2020, confirmed the termination in a November 23 blog post titled “Terminated.”
He claims the firing violated internal policies and occurred before an independent investigation (led by Aluko & Oyebode) concluded.
The decision, announced on November 24, 2025, follows Olubi’s suspension on November 13 amid allegations of sexual misconduct and the viral resurfacing of explicit tweets from 2009–2013.
Olubi, who co-founded Paystack in 2015 with Shola Akinlade and helped scale it to a $200M+ acquisition by Stripe in 2020, confirmed the termination in a November 23 blog post titled “Terminated.”
He claims the firing violated internal policies and occurred before an independent investigation (led by Aluko & Oyebode) concluded.
Paystack, emphasizing its role as a regulated entity, separated the reputational issue from the misconduct probe to protect trust and governance.
The saga, which began on November 12 with allegations from Max “Maki” Mbaegbu (a former associate), escalated when decade-old tweets – including sexually explicit comments about colleagues, minors, and inappropriate workplace scenarios – went viral.
Olubi deactivated his X account on November 13 amid the backlash.
Timeline of Events
Date
Key Development
Nov 12, 2025
Allegations of misconduct surface on X from Maki Mbaegbu; old tweets resurface.
Nov 13, 2025
Paystack suspends Olubi; he deactivates X account.
Nov 22, 2025
Olubi terminated; Paystack cites reputational damage.
Nov 23, 2025
Olubi publishes “Terminated” blog post, claims unfair process.
Paystack’s Rationale: Reputational Risk Over Investigation
Paystack’s statement on November 24 emphasized acting “quickly when conduct has the potential to undermine trust,” separating the reputational issue (tweets) from the misconduct probe.
As a regulated entity under CBN and SEC, the company cited contractual rights and due process, fulfilling all financial obligations to Olubi
The tweets, resurfaced amid the allegations, included explicit comments on workplace touching, minors, and inappropriate scenarios, amplifying scrutiny.
As a regulated entity under CBN and SEC, the company cited contractual rights and due process, fulfilling all financial obligations to Olubi
The tweets, resurfaced amid the allegations, included explicit comments on workplace touching, minors, and inappropriate scenarios, amplifying scrutiny.
Olubi’s Response: “Terminated” Blog Post and Legal Review
In a November 23 blog post, Olubi described the termination as abrupt, lacking a hearing or response opportunity, and inconsistent with Paystack’s suspension terms and internal policies.
He maintains the controversy doesn’t reflect his conduct and is reviewing the process with legal counsel.
Olubi deactivated his X account on November 13 amid the backlash.
He maintains the controversy doesn’t reflect his conduct and is reviewing the process with legal counsel.
Olubi deactivated his X account on November 13 amid the backlash.
Broader Implications for African Fintech
This is a wake-up call for Nigeria’s $1B+ fintech sector, where founders often embody the brand. Paystack’s swift action protects its CBN/SEC compliance and Stripe partnership, but Olubi’s potential lawsuit could set precedents for due process in tech exits.
The incident highlights risks of old social media in 2025’s “permanent record” era, echoing cases like Absa Bank’s 2025 executive exits.
The incident highlights risks of old social media in 2025’s “permanent record” era, echoing cases like Absa Bank’s 2025 executive exits.
For Paystack (processing billions in transactions), the focus shifts to the ongoing probe and rebuilding trust. Stripe has remained silent.
What do you think – fair firing or due process violation? Comment below!
Sources:
- TechCabal: Paystack Fired Ezra for Reputational Damage (Nov 24, 2025)
- Technext: Paystack Ezra Olubi Reputational Damage (Nov 24, 2025)
- Techpoint Africa: Why We Fired Ezra Olubi – Paystack (Nov 24, 2025)
- Nairametrics: Inside Ezra Olubi Suspension (Nov 15, 2025)
- BusinessDay NG: Paystack Fires Co-Founder Ezra Olubi (Nov 24, 2025)
- Punch Newspapers: I Have Been Fired Unfairly by Paystack (Nov 24, 2025)
- TechCabal: Paystack Suspends Ezra Olubi (Nov 14, 2025)
- Dabafinance: Paystack Suspends Co-Founder Ezra Olubi (Nov 14, 2025)
- Linda Ikeji’s Blog: Paystack Co-Founder Ezra Olubi Sacked (Nov 24, 2025)
- Weetracker: Ezra Olubi Suspension (Nov 17, 2025)
The Nation Newspaper: Paystack Fired Me Unfairly (Nov 24, 2025)
- Techpoint Africa: Paystack Fires Co-Founder Ezra Olubi (Nov 24, 2025)
