Paystack co-founder Ezra Olubi demands N140m from journalist David Hundeyin over alleged defamatory tweets

Ezra Olubi, co-founder of Nigerian fintech unicorn Paystack, has issued a pre-action legal notice demanding N140 million (approximately $85,000) in damages from investigative journalist David Hundeyin over a series of posts on X that allegedly defamed him.

The notice, sent by law firm Templars on Olubi’s behalf and dated January 26, 2026, accuses Hundeyin of publishing “false, malicious and defamatory statements” in December 2025 posts.

Those posts reportedly described Olubi as a “lame, insecure social misfit” with a “god complex,” drew parallels to U.S. music mogul Sean “Diddy” Combs’ alleged abuses, and warned of potential dangers to critics, including a reference to Amaka Odel.

Olubi’s legal team demands that Hundeyin, permanently delete the identified posts from X; provide a written undertaking not to publish further defamatory statements about Olubi; publish a full retraction and apology with equal prominence to the original posts and pay N140 million as compensation for reputational damage and emotional distress.

Read also: Reputational fallout triggers Ezra Olubi’s sacking, as Paystack insists due process followed

The letter gives Hundeyin seven days to comply, in accordance with the Lagos State High Court Pre-Action Protocol, and warns that failure to do so could lead to formal legal proceedings.

The dispute follows Olubi’s controversial suspension and eventual ouster from Paystack in late 2025 amid separate allegations of sexual misconduct involving a subordinate, which the company said it was investigating.

Paystack, acquired by Stripe in 2020, has not commented on the latest matter

Hundeyin, known for his investigative reporting on West African politics and business, shared the pre-action letter on his X account. In response, he posted a defiant message including the phrase “go fvck yourselves,” directed at the demands and reportedly mocking both Olubi and aspects of the Nigerian legal system.

He has not issued a formal retraction or apology. The case highlights tensions between Nigeria’s tech sector figures and outspoken journalists amid growing scrutiny of online speech and defamation claims.

Read also: Paystack fires co-founder Ezra Olubi over misconduct allegations

Legal experts note that Nigerian courts have increasingly entertained high-value defamation suits in the social media era, though outcomes vary based on evidence of malice and public interest defenses.

Neither Olubi nor Hundeyin was immediately available for comment beyond the public posts. The matter remains unresolved, with the seven-day compliance window ending in early February 2026.

Royal Ibeh is a senior journalist with years of experience reporting on Nigeria’s technology and health sectors. She currently covers the Technology and Health beats for BusinessDay newspaper, where she writes in-depth stories on digital innovation, telecom infrastructure, healthcare systems, and public health policies.

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