Nigerian fintech powerhouse Paystack has suspended its co-founder and Chief Technology Officer, Ezra Olubi, following serious allegations of sexual misconduct involving a subordinate. The decision, announced on November 13, comes amid a firestorm of resurfaced decade-old social media posts containing explicit and disturbing content, sparking widespread outrage across Nigeria’s tech ecosystem and beyond.
The Allegations and Timeline
The controversy ignited on November 12 when Amaka “Max” Mbaegbu (also known as Maki or Max Obae), a US-based Nigerian finance professional and former partner of Olubi, detailed her experiences in a series of X posts, audio clips, and written accounts. Mbaegbu described a short-lived polyamorous (throuple) relationship with Olubi and her wife, alleging patterns of manipulation, emotional abuse, misogyny, and verbal degradation during and after their involvement. Central to her claims was Olubi’s alleged sexual involvement with a female subordinate at Paystack, which she framed as a breach of workplace power dynamics and professional boundaries.
Mbaegbu’s posts, which did not initially name Olubi, quickly drew connections from online observers, prompting a deeper dive into his digital past. By November 13, screenshots of Olubi’s tweets from 2009 to 2013—posted when he was in his mid-20s—resurfaced en masse. These included sexually explicit jokes about colleagues (e.g., “Touch a coworker today. Inappropriately” and references to erections during meetings), desires to photograph a coworker’s thighs, and alarming remarks involving minors, bestiality, zoophilia, pedophilia, rape fantasies, incest, and sexualized anime characters. One particularly disturbing 2011 tweet read: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.” Olubi deactivated his X account on November 13 amid the backlash, but the content continued to circulate widely, amassing over 180,000 posts under hashtags like #EzraOlubi and #Meowsogynist (a satirical jab at the explicit posts).
Mbaegbu’s revelations also included claims of Olubi’s health disclosures—allegedly HIV and Hepatitis B status—which he purportedly shared manipulatively during their relationship, raising public health concerns. She provided screenshots identifying the alleged subordinate, intensifying calls for Paystack’s internal probe to verify workplace involvement. As of November 15, Olubi has not publicly responded to the allegations or tweets, despite outreach from multiple outlets.
Paystack’s Swift Response
Paystack, a Stripe subsidiary since its $200 million acquisition in 2020, acted decisively. In statements to TechCabal, Techpoint Africa, and others, the company confirmed: “Paystack is aware of the allegations involving our Co-founder, Ezra Olubi. We take matters of this nature extremely seriously. Effective immediately, Ezra has been suspended from all duties and responsibilities pending the outcome of a formal investigation.” The review, led by Paystack’s Board in line with internal policies, emphasizes transparency and respect for those involved. “Out of respect for the individuals involved and to protect the integrity of the process, we will not be commenting further until the investigation is complete,” the firm added.
Founded in 2015 by Olubi and CEO Shola Akinlade—both Babcock University computer science graduates—Paystack powers payments for over 200,000 businesses across Africa via cards, transfers, USSD, and mobile money. Olubi, 39, architected its tech backbone, earning a 2022 Officer of the Order of the Niger (OON) for tech contributions. The suspension marks a reputational pivot for the Lagos-based unicorn, with no updates on his equity or benefits as of now.
Public and Social Media Backlash
The story exploded on X, trending nationwide with polarized reactions. Supporters of Mbaegbu praised her courage, dubbing the saga a “#MeToo moment for African tech,” while memes like “meowsogynist” (mocking bestiality references) went viral. Users demanded Olubi’s OON revocation, police probes under Nigeria’s Criminal Code (penalties up to 14 years for related offenses), and an online petition surged. One post warned: “Your body is not a guest house with an open-door policy… Go get tested. Today.” Critics accused Mbaegbu of leverage (e.g., over a $55K loan for her brother’s tuition), but many dismissed this as deflection.
New Instagram posts purportedly linked to Olubi surfaced on November 15, deepening scrutiny, per Posh Reporters. Broader discourse, amplified by artists like Odumodublvck, condemned industry silence on abuse: “Your silence is louder than everything we have heard.” Stakeholders urged police involvement for a “thorough and transparent inquiry.”
Broader Implications for Nigeria’s Fintech and Tech Ecosystem
This scandal underscores recurring misconduct in African tech, echoing October’s Kenyan court fining Pawa IT CEO Oscar Limoke for harassment. For Paystack, a fintech beacon post-Stripe buyout, it tests investor trust and workplace culture amid Nigeria’s rising child abuse concerns. Experts warn of fallout on talent retention and funding, with calls for mandatory ethics training and digital footprint audits for leaders. In the Niger Delta, where tech hubs in Port Harcourt and Warri fuel youth innovation, this highlights the need for accountability to prevent elite impunity from stifling regional growth.
As Marie Claire Nigeria noted: “Accountability has no timeline.” The investigation’s outcome could redefine standards for Africa’s $7 billion fintech sector.
