A Crisis That Escalated Quickly

Paystack’s decision to fire its co-founder and former Chief Technology Officer, Ezra Olubi, has become one of the most contentious moments in Nigeria’s tech industry. What started as a social media accusation rapidly evolved into a reputational emergency, forcing Paystack to choose between protecting its image and giving one of its founding executives a chance to respond.

How the Controversy Started

The storm began in mid-November when an online post accused Olubi of abusive behaviour. As the claim spread, online users dug up explicit tweets he wrote between 2009 and 2013. The tweets contained sexual remarks involving colleagues and minors, sparking outrage and casting a cloud over Olubi’s reputation. He eventually deactivated his X account as reactions intensified.

Paystack Responds Under Pressure

Paystack initially suspended Olubi and announced that it had launched a formal investigation. The company also said it planned to appoint an independent investigator. The move signalled an attempt to stabilise the crisis and assure regulators, partners, and customers that it was taking the allegations seriously.

Olubi Says Paystack Acted Too Fast

In a blog post titled “Terminated,” Olubi said Paystack dismissed him while the investigation was still ongoing. He stated that the company did not invite him to any meeting or give him an opportunity to defend himself. According to him, the silence during the review process allowed “assumptions and misrepresentations to spread without challenge.”

Olubi insisted that the resurfaced tweets do not represent his behaviour. He argued that people who know him personally or professionally can attest to how he has always respected others’ dignity and safety. He added that his legal team will explore possible actions in response to his dismissal.

Why Paystack Moved Decisively

Industry analysts believe Paystack acted aggressively because the company now operates under intense international scrutiny. Since Stripe acquired Paystack in 2020 for more than $200 million, the stakes around compliance, governance, and public trust have grown significantly.

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Fintech companies depend heavily on credibility. Any association with sexual misconduct can trigger regulatory attention, investor concern, customer distrust, and reputational damage across multiple markets. For a payments brand operating across Africa, even the appearance of inaction could escalate into a major crisis.

To avoid that risk, Paystack appears to have prioritised its image over the legacy of one of its founders. The company likely calculated that swift action would limit fallout and reassure stakeholders that it remains committed to safeguarding user trust.

A Tense Lesson for Africa’s Tech Sector

Still, the company’s handling of the process raises difficult questions. Did Paystack protect its brand at the cost of due process? Could the company have investigated more thoroughly before taking such a final step? These debates continue to evolve, especially as Paystack proceeds with its promised independent review.

The situation now stands as a case study in crisis management within Africa’s maturing technology landscape. It exposes the difficult balancing act between protecting a company’s reputation and ensuring fairness to individuals caught in public controversy.

Ultimately, the Paystack–Ezra Olubi saga underscores a hard truth in today’s business environment: when allegations threaten a global brand, reputation often outweighs even the legacy of a founder.