Paystack Fires Co-Founder, Ezra Olubi Claims Unfair Termination - All You Need to Know

Nigerian fintech giant Paystack has terminated its co-founder and technical leader, Ezra Olubi, following public allegations of sexual misconduct. The firing, announced to Olubi on Saturday, November 22, 2025, is a tectonic shift at one of Africa's most prominent technology companies.

But the corporate clean-up has immediately devolved into a governance crisis. Olubi has hit back, claiming the Board of Directors violated their own terms, turning a disciplinary action into a potential legal standoff.

Due Process or Decisive Action?

According to Olubi’s statement, he was initially placed on suspension while the Board initiated what was described as an "independent investigation." Olubi claims he chose silence to cooperate and avoid interfering with the process, expecting an unbiased review of the information circulating online.

However, the termination notice arrived before the purported investigation was concluded.

"This decision was taken before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond to the issues raised, in clear contravention of the terms of the suspension and Paystack’s own internal policies.”

Olubi, as a co-founder and long-serving board member, was instrumental in building the internal systems that underpin the company's operations. His immediate decision to refer the matter to his legal team signals a high-stakes battle over corporate ethics and employee rights.

Governance Test at Paystack

This incident is more than a personal scandal; it is a critical governance test for the African tech ecosystem.

Companies like Paystack are under immense pressure to act decisively against misconduct, especially when public allegations against senior leadership can instantly destroy trust and reputation. Yet, the rush to terminate a co-founder without following established due process creates a dangerous precedent.

The legal review will center on a core question: Did Paystack prioritize damage control and speed over the fundamental principle of fair internal hearing?

This termination creates a leadership vacuum and forces a public reckoning over the standards of accountability at the apex of African fintech. Olubi, through his legal team, is now challenging the systems he helped create.