Paystack says it terminated the employment of Ezra Olubi, its cofounder, due to “significant negative reputational damage” linked to resurfaced tweets.
According to a TechCabal report, the fintech company said the action was taken independently of the ongoing investigation into allegations of workplace misconduct.
In a statement to the publication, Paystack explained that it acted within its contractual rights and “followed due process,” adding that all financial entitlements due to Olubi had been settled.
“As a regulated company operating in multiple markets, we have a responsibility to act quickly when conduct has the potential to undermine trust,” the company said.
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“After reviewing the situation, we exercised our right under his contract and followed due process to end his employment.
“This has no bearing and is separate from the independent investigation into the allegations of workplace misconduct, which remains ongoing.
“The review is being led by Aluko and Oyebode, the external law firm appointed by the Board. It is continuing independently, and we will share updates once it is complete.”
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Paystack did not respond to TheCable’s enquiry.
Earlier in a blog post, Olubi said he has been sacked by the company, claiming that his dismissal 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”.
He further argued that his silence has created “a vacuum that allowed assumptions and misrepresentations to spread without challenge, maintaining that the resurfaced posts do not reflect his conduct or values”.
Olubi also said that he will take legal action to review the process that led to the termination of his employment contract.
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On November 12, Olubi’s resurfaced tweets about wanting to photograph a coworker’s thighs, and remarks that referenced minors, bestiality, and sexualised anime characters from 2009-2013, trended on X.
This incident led him to deactivate his account the following day.
Afterwards, Paystack suspended the co-founder on November 14 and launched a formal investigation into the alleged sexual misconduct.
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