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Wema Bank Unveils ₦120M Grand Prize Pool as 35 Teams Advance to Hackaholics 6.0 Finale

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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.

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Banking and Finance

OAU, UNN, Other Fresh Graduates Win Big in Unity Bank Corpreneurship Challenge

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Lagos.10.02.26. Unity Bank Plc has announced winners in the 27th edition of its flagship Entrepreneurship Development Initiative, also known as Corpreneurship Challenge, following the conclusion of Business Pitch at the Batch C, Stream 2 edition of the National Youth Service Corps (NYSC) orientation programme held across 10 states of the federation.Notably, Corps Members who graduated from Obafemi Awolowo University (OAU), University of Nigeria, Nsukka (UNN), The Polytechnic, Ibadan, amongst several tertiary institutions, emerged from the latest round of the Corpreneurship Challenge business pitch. Participants pitched business ideas across diverse sectors such as fashion, agribusiness, footwear production, and services.At the Lagos State NYSC Orientation Camp, Awolumate Fawaz Babatunde, a Civil Engineering graduate of The Polytechnic, Ibadan, emerged the overall winner after pitching a fashion design business, clinching the N800,000 grand prize. Ugwoke Daniel Ifechukwu, a graduate of the University of Nigeria, Nsukka, emerged first runner-up to receive N500,000.In Rivers State, Abdur-Razaq Sayfullah Adebola, a graduate of Obafemi Awolowo University, topped the competition at the Nonwa Gbam Tai NYSC Orientation Camp with a footwear-making business plan. Meanwhile, Olatunde Esther Funmilayo of Olabisi Onabanjo University emerged as the winner at the Kwara State NYSC Orientation Camp after impressing judges with her deodorant production and services pitch.

More winners emerged from Abuja, Niger, Adamawa, Jigawa, Plateau, Kaduna, and Delta States, further expanding the geographical reach and impact of the initiative.Speaking on the latest edition of the programme, Mrs. Adenike Abimbola, Divisional Head, Retail, SME & E-Business at Unity Bank Plc, said the Corpreneurship Challenge continues to reflect the Bank’s commitment to youth empowerment and enterprise development.“The Corpreneurship Challenge has been driven by our commitment to boosting entrepreneurship among young people, especially fresh graduates. At Unity Bank, we recognise that many young Nigerians possess viable business ideas but lack the initial capital and support to bring them to life. The Corpreneurship Challenge was designed to bridge that gap by providing financial backing, mentorship, and confidence to fresh graduates at a critical stage of their lives,” she said.She added that the quality of ideas presented by corps members across states underscores the growing entrepreneurial appetite among Nigerian youths.“What we see every edition is innovation, resilience, and a strong desire among young graduates to create value and jobs. By supporting them early, we are not only helping individuals, but also contributing to the growth of the SME ecosystem and the broader economy,” Abimbola noted.Over the years, the Unity Bank Corpreneurship Challenge has become a key feature of the NYSC orientation programme, delivered in partnership with the NYSC Skill Acquisition and Entrepreneurship Development (SAED) initiative. Since its inception, the programme has produced 638 young entrepreneurs nationwide, offering grants of up to N300 million to help corps members kick-start or scale their businesses.The initiative aligns with the Federal Government’s drive to promote entrepreneurship and self-employment among graduates, particularly amid the shrinking availability of white-collar jobs.Unity Bank said it remains committed to expanding the reach of the Corpreneurship Challenge and deepening its support for young entrepreneurs as part of its broader strategy to drive financial inclusion, job creation, and sustainable economic growth.

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Banking and Finance

Fidelity Bank Improves Access to Quality Education in Anambra

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L-R: Chairman, Anambra State Universal Basic Education Board (ASUBEB), Dr Vera Nwadinobi; Anambra State Commissioner for Education, Prof Ngozi Chuma-Udeh; and Regional Bank Head, Fidelity Bank Plc, Awka, Dr. Nosa Orumwense; at the handover ceremony of the administrative block renovated by Fidelity Bank Plc to Community Secondary School, Enugwuabo Ufuma, Orumba North Local Government Area, Anambra State recently.

Leading financial institution, Fidelity Bank Plc has reaffirmed its commitment to advancing quality education and youth empowerment with the renovation of an administrative building to Community Secondary School, Enugwuabo Ufuma, in Orumba North Local Government Area of Anambra State.

The one-storey administrative block was comprehensively renovated as part of Fidelity Bank’s interventions to address infrastructural challenges faced by the school. The renovated facility was then formally handed over to the school community at a ceremony attended by government officials, community leaders, and other stakeholders.

Speaking at the official handover ceremony, the Regional Bank Head, Fidelity Bank Plc Awka, Dr. Nosa Orumwense, said the project underscores the bank’s long-standing commitment to investing in education as a catalyst for sustainable development.

“For us at Fidelity Bank, this project represents more than a building. It represents opportunity, progress, and a shared commitment to building a better future for our youths here in Enugwuabo Ufuma and beyond.

By improving the educational infrastructure of this community, we are providing students and teachers with an environment that promotes learning, discipline, and pride”, Orumwense added.

Also speaking at the event, the Commissioner for Education, Professor Ngozi Chuma-Udeh, who represented the Governor of Anambra State, Professor Chukwuma Soludo, described the project as a true demonstration of corporate social responsibility.

“Corporate social responsibility is what gives an organisation its human nature. What Fidelity Bank has done reflects compassion and a genuine commitment to touching lives”, Prof. Chuma-Udeh said.

This school was earlier placed on an emergency list due to the deplorable condition of its buildings. During my last visit, I was genuinely concerned about the safety of both students and teachers. Today, the school wears a new look, thanks to Fidelity Bank’s support”.

The Commissioner also expressed the state government’s appreciation to Fidelity Bank, saying, “We thank Fidelity Bank for this intervention, which clearly demonstrates the true meaning of corporate social responsibility – making tangible impacts that improve lives and strengthen communities”.

The project forms part of Fidelity Bank’s broader CSR strategy focused on empowering communities, strengthening educational institutions, and creating long-term socio-economic value across Nigeria.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

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Banking and Finance

Polaris Bank Strengthens MSMEs Export Ecosystem at NAHCO/NACCIMA Export Group Programme

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Polaris Bank has reaffirmed its strategic commitment to strengthening Nigeria’s non-oil export ecosystem and empowering micro, small and medium-sized enterprises (MSMEs) at the NAHCO and NACCIMA Export Group Programme themed *Breaking Barriers: Helping SMEs Navigate Export Procedures for Agro Products and Other Commodities.”

The one-day engagement brought together regulators, industry stakeholders, exporters and trade bodies to advance practical solutions for easing trade barriers, improving access to finance and building a more resilient and diversified Nigerian economy.

The programme also marked the formal introduction and launch of the NACCIMA Export Group and the NAHCO Export Support Centre for MSMEs in Nigeria, creating a structured platform for exporters to access trade facilitation services, logistics support, regulatory guidance and financial solutions across the export value chain.

Speaking at the programme, Polaris Bank’s Executive Director, Chris Ofikulu, underscored the national importance of export diversification and the central role of SMEs in building a resilient economy. He noted that reducing Nigeria’s dependence on oil revenues requires coordinated action across the public and private sectors to strengthen non-oil exports, particularly within agro-exports and commodity trade.

“Expanding non-oil exports is not optional; it is a strategic imperative for building a resilient, inclusive and competitive Nigerian economy. SMEs, particularly in agro-exports and commodity trade, hold the key to unlocking our true comparative advantage. Polaris Bank remains committed to providing the finance, advisory support and partnerships required to help them scale confidently and compete globally,” Ofikulu said.

The engagement also focused on addressing structural challenges confronting exporters, including infrastructure gaps, port inefficiencies, logistics constraints, standards and certification requirements, and policy consistency.

Participants emphasized the need for stronger public-private collaboration among government agencies, trade bodies, financial institutions and logistics partners to simplify export procedures and improve market access for Nigerian SMEs.

Also addressing stakeholders, Olaleye Arinola, Team Lead, Trade Services, Polaris Bank, highlighted the importance of removing trade and payment bottlenecks that limit exporter competitiveness and cash flow. He emphasized the Bank’s focus on building confidence and certainty into the export process through practical financial and advisory support.

“Exports cannot grow if finance and payments remain obstacles. At Polaris Bank, our focus is on removing friction from international trade by ensuring SMEs get paid faster, safer and with greater certainty through efficient trade finance, secure cross-border payments and hands-on guidance across documentation, FX and compliance,” Arinola said.

As part of its partnership with the business and trade community, Polaris Bank unveiled a Dedicated Help Desk for NACCIMA members, designed to provide direct access to trade finance and payment support, fast-track resolution of export-related enquiries, and personalized advisory services on FX documentation and regulatory compliance.

Polaris Bank reaffirmed its commitment to working closely with NAHCO, NACCIMA and other stakeholders to strengthen exporter capacity, promote value addition across agro-exports and commodities, and unlock sustainable growth opportunities for Nigerian businesses in regional and global markets.

As Nigeria advances its economic diversification agenda, Polaris Bank remains positioned as a trusted partner for SME exporters, providing the finance, knowledge and institutional support required to compete globally and contribute meaningfully to national development and long-term economic resilience.

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