Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced a ₦120 million prize pool for the Hackaholics 6.0 Grand Finale. This announcement follows the emergence of 35 teams from regional pitch sessions that recorded 1,460 participants across seven cities in Nigeria.

Announcing the prize structure, MD/CEO Wema Bank, Moruf Oseni, disclosed that the ₦120 million will be awarded across several winning categories at the finale. The Ideathon prizes include ₦25 million for first place, ₦20 million for the first runner-up and ₦15 million for the second runner-up. In the Hackathon category, the first to fourth-place teams will receive ₦20 million, ₦15 million, ₦10 million and ₦5 million respectively. In addition, two women-led innovations, one from each vertical, will receive ₦5 million each in recognition of Wema Bank’s commitment to advancing female participation in technology and innovation.

According to Moruf Oseni, “Hackaholics continues to demonstrate the power of young people to shape the future of technology and nation-building. We believe strongly in the ideas, resilience, and ingenuity of the Nigerian youth, and our investment in this initiative is a clear testament of our commitment to giving them the resources, mentorship, and platform they need to transform their ideas into real-world solutions. As these finalists head to Lagos, we are confident that their innovations will create meaningful impact across industries and communities, and we are proud to be a champion for that transformation.”
The 35 finalist teams emerged from a regional pitch cycle that received over a thousand applications across eight pitch centres: Ahmadu Bello University (ABU Zaria), Federal University of Technology Akure (FUTA), Lagos State University (LASU), University of Uyo (UNIUYO), Babcock University, University of Ibadan (UI), Veritas University Abuja and Purple Academy Lagos. Each centre provided students with access to industry-led masterclasses, hands-on mentorship and structured pitch development sessions, culminating in highly competitive presentations before expert judges.

The finalists include 17 Ideathon teams, 12 Hackathon teams and six women-led teams, each tackling challenges across fraud detection, customer experience, onboarding, acquisition, credit management and other social impact areas. All teams will participate in a three-day pre-finale mentorship and shortlisting programme ahead of the Grand Finale in Lagos.

Finalists expressed excitement about advancing to the Lagos finale and the opportunities ahead. The team leader of Veritas’ Hackathon winner, Tensor, Medugu Wali, shared the reason they are participating in the competition. “We built ‘Wallet Padi’ because we believe it can genuinely improve how Nigerians manage their money. Advancing to the pre finale leg of Wema Bank Hackaholics is a big step toward bringing that vision to life, and we appreciate Wema Bank for creating this platform.”

Babcock’s Ideathon winner, Akobundu Gift, a participant who had earlier attempted the Hackaholics challenge in 2023 but didn’t win, expressed great enthusiasm at the prospect of moving on to the next stage. Extending his gratitude to Wema Bank, he reminisced on the journey of his Startup, ‘Chao’. According to him, “Chao started as a small campus food-delivery idea in 2023, and it has grown far beyond what we imagined. Reaching the Hackaholics finals again reflects how much we’ve evolved. We’re grateful to Wema Bank for the opportunity and excited to compete at the next stage.”

Ogunlana Tosin, founder of Eutopia.ai, the women-led project winner at Veritas University, also shared her joy after being announced winner at her Pitch Centre, adding “Not making it at Babcock was honestly painful, but we were determined to win so we took the feedback, refined our solution and returned to try again. Advancing beyond the preliminaries this time showed me what’s possible when we don’t give up. I’m truly grateful to Wema Bank for this opportunity and for continuing to champion women empowerment, helping women-led innovation to thrive, and supporting women through initiatives like SARA,” she said.

Since its inception in 2019, Hackaholics has grown into one of Nigeria’s most influential youth innovation platforms, attracting more than 12,000 applicants across 15 schools and disbursing over $300,000 in funding and support. Between 2023 and 2024 alone, ₦75 million was awarded to women-led teams. With the launch of the Hackaholics Accelerator and Collective Program earlier this year, Wema Bank now provides ongoing support to early-stage founders beyond the competition cycle.

The Hackaholics 6.0 Grand Finale will bring together industry leaders, policymakers, investors and technology experts in Lagos for live pitches, product showcases and the unveiling of Nigeria’s next generation of transformative founders. For more information, visit hackaholics.wemabank.com or follow Wema Bank’s digital platforms.

Wema Bank, Nigeria’s most innovative bank and the pioneer of Africa’s first fully digital bank, ALAT, has reaffirmed its dominance by emerging as the Overall Winner at the just-concluded Nigeria Bankers Game (NBG) 2025 Grand Finale. This historic achievement marks the bank’s fourth consecutive win at the prestigious sporting event, setting a new industry record.

With an impressive tally of 9 gold medals. Wema Bank clinched victories across various categories, including Table Tennis (Female Singles, Doubles, and Mixed Doubles), Volleyball, Scrabble, Video games, 100m Female, 200m Female, and the 4x100m Female Relay.

This year’s NBG also celebrated individual excellence, with Oluwaseun Adewunmi an employee of Wema Bank earning the title of Nigeria Bankers Game 2025 Overall Outstanding Athlete. Her exceptional performances across various disciplines reflect deep commitment, discipline, and resilience, making her stand out as one of the tournament’s finest competitors.

Moruf Oseni, Managing Director and CEO of Wema Bank, expressed his pride in the achievement. According to him, “Wema Bank Plc has once again won the Nigerian Bankers Games title for the fourth consecutive year. This remarkable feat sets a new benchmark in the Nigerian banking industry. As we commemorate 80 years of impact and service, this victory carries even deeper meaning for us as an institution.

We owe this incredible success to every staff who wore our colours and competed with passion, focus, and grit, our esteemed athletes, you are true champions. Your dedication to training and your stellar performance across all events showcased the absolute best of our institution. Thank you for making history.

This championship confirms that Wema Bank is a powerhouse, a place where excellence is not the exception but the standard. This victory is more than just a trophy. It is a profound reflection of our corporate DNA and a powerful testament to the spirit of excellence and determination that defines us.” He concluded.

Reacting to her recognition as the overall outstanding athlete of the year, Oluwaseun Adewunmi shared her excitement. “I am deeply honored to receive this award. Competing across several events and representing Wema Bank has been an incredibly fulfilling experience. This achievement is a shared victory that belongs to my teammates and everyone who supported us throughout the tournament. I am grateful to Wema Bank for providing the platform, encouragement, and support that enabled us to perform at our very best.”

As Wema Bank celebrates this landmark fourth consecutive win, the bank reiterates its commitment to excellence and continuous progress. This historic achievement is not only a reflection of sporting success but also a testament to Wema Bank’s unwavering dedication to fostering a culture of resilience, innovation, and collaboration. Through consistent performance, empowerment of its people, and a drive to set new standards, Wema Bank continues to lead as a trailblazer, inspiring others to strive for greatness.

Wema Bank has announced that it will be giving its customers a turn up December shopping experience at Fashion Souk 2025, scheduled to hold on December 6 and 7, 2025 at Harbour Point, Victoria Island, Lagos.

Building on previous successes, this year’s souk powered by Wema Bank promises to be one of the biggest lifestyle destinations for fashion, lifestyle and beauty, enthusiasts to shop, discover, and celebrate the season.

For shoppers, Wema Bank is making the experience seamless and rewarding by offering a twenty percent cashback on every purchase when they pay with the Wema or ALAT debit card. Customers can also open Wema Bank accounts on-site, fund them, and participate in spin-and-win rewards to unlock cash and gift prizes.

Beyond the shopping experience, the Wema X Fashion Soak further reiterate Wema Bank’s commitment to empowering SMEs, supporting entrepreneurs, and delivering exceptional experiences that blend lifestyle, fashion, and financial convenience.