In an official statement shared with TechCabal, the company revealed that Ezra’s exit was tied to “significant negative reputational damage” caused by a batch of old tweets that recently resurfaced online. According to Paystack, the controversy around those posts had grown to a level that could no longer be ignored, prompting the company to exercise its contractual right to terminate his employment.
Paystack clarified that this decision was made strictly on reputational grounds and is completely separate from the ongoing independent investigation into alleged misconduct within the company. The fintech emphasized that linking both issues together would be misleading, as they are being handled through different processes.
The company further noted that despite the termination, all financial commitments and obligations owed to Ezra Olubi — as stated in his employment contract — have been fully completed. “We followed due process,” Paystack maintained.
Ezra’s dismissal has quickly become one of the most talked-about topics online, especially given his iconic status in Nigeria’s startup ecosystem. As co-founder, Ezra played a central role in building Paystack into a payments giant eventually acquired by Stripe in one of Africa’s biggest tech deals.
While Ezra has yet to publicly respond to Paystack’s new statement, many in the tech community are still debating whether the company acted too harshly or simply did what was necessary to protect its brand image.
For now, Paystack appears focused on drawing a firm line between the reputational fallout from Ezra’s tweets and the broader workplace investigation still underway. What comes next — especially from Ezra’s side — may further shape the narrative in the coming days.
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