Paystack sacks co-founder Ezra Olubi

Paystack has terminated the appointment of its co-founder and Chief Technology Officer, Ezra Olubi, following days of online allegations of sexual misconduct and an internal suspension by the company’s Board.

Olubi, who co-founded the fintech firm in 2015, confirmed his sack in a statement on Saturday, saying the decision was communicated while the company’s promised investigation was still ongoing, a report by Nairametrics disclosed.

According to him, Paystack ended his employment “before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond to the issues raised.” He described the process as a breach of Paystack’s own policies and insisted he had fully cooperated with the Board.

The allegations against Olubi, which resurfaced across social media last week, include old tweets and accusations from a former associate, sparking widespread debate and prompting the company to announce an “independent” review.

Ezra Olubi disclosed that his legal team is now assessing the termination and determining the next steps. He declined further comment.

Paystack has yet to release an updated statement on the matter.

The company, one of Africa’s biggest digital payment players and a major partner of Stripe, is now facing intense scrutiny over its handling of the allegations and the exit of one of its founding executives.