Paystack co founder Ezra Olubi has publicly announced that the company terminated his employment while an internal investigation was still ongoing. Olubi made the revelation on his personal platform, Shit Ezra Says, where he released a detailed statement explaining the circumstances surrounding his exit.

His announcement follows days of intense online debate after resurfaced posts and allegations linked to him sparked widespread criticism. In response, Paystack’s Board of Directors had earlier placed him on suspension while commissioning what it described as an independent investigation into the claims. Olubi has now stated that he was removed from the company before that investigation reached any conclusion.

The situation marks one of the most dramatic leadership shakeups within Nigeria’s tech ecosystem this year, especially given Paystack’s global visibility and its acquisition by Stripe. For many observers, the controversy raises questions about governance, accountability and the handling of reputational risks within large African startups.

Olubi Says He Was Never Given a Hearing

In his statement, Olubi said that once the investigation began, he deliberately avoided making any public comments in order to preserve the integrity of the process. He explained that he expected a fair and transparent review and therefore complied fully with all instructions from the board.

However, he said the silence created room for widespread speculation, which further affected his image. According to him, people who have worked with him personally or professionally understand that the posts circulating online do not reflect his character or the way he relates with others.

Olubi stated that on Saturday, 22 November 2025, he was informed that his employment had been terminated. He claims this decision went against the terms of his suspension and against Paystack’s internal policies. He added that the termination happened without any meeting, without an opportunity to respond and without a formal hearing to address the allegations.

In his words, the decision was taken “before the supposed investigation was concluded,” which he believes contradicts the assurances originally given to him when the review started. He emphasised that he cooperated fully and acted in good faith throughout the process because he trusted that the procedure would be thorough and unbiased.

Olubi also noted that he personally contributed to the creation of many of Paystack’s systems and operational structures during his years as co founder, technical lead and board member. This background, he said, makes the company’s decision even more surprising for him.

Legal Team Begins Review

In the final part of his statement, Olubi confirmed that his legal team is currently reviewing how the process was handled and assessing whether the termination aligns with Paystack’s documented procedures. According to him, his lawyers will take whatever steps they believe are appropriate.

He made it clear that he does not intend to make additional statements for now and will leave the next phase of the matter to his legal representatives.

Paystack has not released a new public statement regarding the latest development. Earlier announcements only confirmed his suspension and the initiation of an investigation. Industry watchers are now waiting to see whether the company will provide further clarification on the decision to terminate one of its founding executives while the review was still ongoing.

The situation has created intense discussion within Nigeria’s tech community, especially among founders, investors and employees who view the episode as a major moment for workplace culture and governance in African startups.

As reactions continue across social media and within industry circles, many expect more updates in the coming days, either from Paystack or from other parties involved in the matter.