aystack Co-founder and Chief Technology Officer Ezra Olubi has stated that the decision to relieve him of his duties at the company, where he played a pivotal role in helping the organisation attain its enviable heights, is unfair.

The tech world woke up to the shocking news of Ezra’s appointment being terminated by Paystack on Monday, November 24th. Initially, the company, which attained unicorn status in 2020, had stated that they were hiring an external independent investigator to look into the allegations of sexual misconduct levelled against Ezra.

However, it was even more shocking when Ezra released a blog post stating that his appointment had been terminated over the weekend, without any fair hearing or due process having been followed.

“On Saturday, 22 November 2025, I was informed that my employment had been terminated. 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.”

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When the news of Ezra’s suspension broke, Techpoint Africa spoke to Osita James Uche, Managing Partner at Blackcrest Law, who stated that the company’s next steps will be shaped significantly by the terms of Ezra’s contract following Stripe’s acquisition of Paystack.

“Usually, when there is a merger or acquisition, there might be clauses that state that the founders will stay back for a number of years to support operations,” Uche explains. “Sometimes the stay-back is voluntary. If it was voluntary, it will be very easy to strip him of his role if they find out he is guilty of any misconduct. But if it was mandatory under the contract, it becomes more tricky.”

He adds that if the acquisition granted the founders operational freedom, board positions, or significant shareholding, they may retain enough influence to shape the board’s decision after the investigation.

“If he is still a significant shareholder and potentially a director, the final decision will have to be something the board votes on. But again, the board cannot vote unless the investigation reveals anything.”

It appears that Paystack decided to strip Ezra of his position, in a bid to protect their brand name and send a strong signal that the organisation is very much interested in how the conduct of employees, both within and outside the organisation, affects its reputation.

I had no chance to defend myself – Ezra Olubi
In his concise blog post, Ezra stated that the company’s internal processes were not followed and that the investigations had not even reached any conclusion before his employment was terminated.

“As co-founder, technical leader and long-serving Board member, I have been part of instituting the systems and processes that underpin Paystack’s internal operations. I engaged with this investigation in good faith and cooperated fully with the Board’s directives on that basis.

My legal team is now reviewing the process that led to my purported termination, including its consistency with internal policies. They will take the steps they consider appropriate, and I will not be commenting further on this matter at this time.”

Ezra has made up his mind to fight what he considers an unjust termination, and he has gotten his legal team involved. Whether this is a good move or not, we just have to wait and see how this drama unfolds.

Techpoint Africa has reached out to Paystack for comments, but has yet to receive a response as of the time of publication.