Paystack co-founder and former chief technology officer Ezra Olubi has criticised the company’s Board of Directors after his suspension and subsequent termination, describing the process as unfair, opaque and inconsistent with the firm’s own internal rules.
In a detailed statement posted on his personal website and reviewed by Angel Network News (ANN), Olubi said his “name and reputation, built over years” had been thrown into question following allegations that surfaced online in recent days.
The Board, he said, responded by placing him on suspension and initiating what it described as an “independent investigation.”
Olubi explained that he chose not to speak publicly at the time in order to avoid interfering with the review, saying he expected “a fair, thorough and unbiased” process. Instead, he said, the silence “created a vacuum that allowed assumptions and misrepresentations to spread without challenge.”
He insisted that the online posts circulating about him “do not reflect my conduct or the way I have lived my life,” adding that he has always strived to act in a manner “that respects everyone’s dignity and safety.”
According to Olubi, the situation escalated on Saturday, 22 November 2025, when he was informed that his employment had been terminated — a decision he said was made “before the supposed investigation was concluded, and without any meeting, hearing, or opportunity for me to respond.”
He described the action as being “in clear contravention of the terms of the suspension and Paystack’s own internal policies.”
Olubi emphasised that as a co-founder and long-serving board member, he had helped design many of the systems and processes governing the company’s internal operations. He added that he had engaged fully and in good faith with the Board’s directives throughout the investigation.
“I cooperated fully with the Board’s directives on that basis,” he wrote.
The tech entrepreneur said his legal team is now reviewing the process that led to his termination, assessing whether it complied with internal policies.
“They will take the steps they consider appropriate, and I will not be commenting further on this matter at this time,” he said.
