Wema Bank, Nigeria’s most innovative bank and the pioneer of Africa’s first fully digital bank, ALAT, has launched the 2026 Hackaholics Accelerator Program, welcoming ten startups into the cohort. The Hackaholics Accelerator, a selective growth program under Wema Bank’s Hackaholics platform, is designed to help promising Nigerian startups strengthen their business foundations and prepare for sustainable scale and investment.

After six years of driving innovation through Hackaholics, Wema Bank is extending its support beyond ideation and competition into hands-on startup building through Hackaholics Accelerator. The initiative provides founders with the structure, mentorship, and ecosystem access they need to turn strong ideas into viable, scalable businesses.

The 2026 cohort comprises ten startups in total, drawn from the top 10 performing finalists from Hackaholics 6.0. The startups include Farmslate, Ploy, Stocmed, Feest (Chao), Varsityscape, MamaAlert, Sane, Cyclex, Kieva, and Loocomo.

Commenting on the evolution of Hackaholics and the second edition of its Accelerator program, MD/CEO of Wema Bank, Moruf Oseni, said it reflects the Bank’s commitment to supporting founders beyond ideation and helping promising innovations grow into sustainable businesses.

“Over the past six years, Hackaholics has grown into more than a competition; it has become a platform that reveals the depth of innovation and entrepreneurial potential that exists across Nigeria,” Oseni said. “With this second edition of Hackaholics Accelerator, we are taking the next step by supporting founders beyond the ideation stage and into the process of building sustainable businesses. The startups selected for this cohort represent some of the most promising solutions emerging from the Hackaholics ecosystem, and we are committed to helping them refine their models, strengthen their foundations, and scale their impact.”

Speaking on the ten startups selected for the cohort, Babatunde Mumuni, Chief Transformation Officer, Wema Bank, added that the Accelerator will guide founders through a structured process to strengthen their businesses and prepare them for sustainable growth.

“The startups selected for this cohort already have strong foundations, with products already in market, early traction, and clear potential for growth,” Mumuni said. “Each of the selected startups brings a unique solution to real challenges across different sectors. What Hackaholics Accelerator provides is the environment to strengthen those foundations through hands-on mentorship, strategic guidance, and access to the right networks. Over the course of the program, we will work closely with these founders to refine their models, deepen market traction, and prepare them for sustainable scale.”

All 10 startup founders will undergo a series of training sessions led by industry experts across key areas critical to startup growth. Facilitators for the programme include the Chief Transformation Officer, Corporate Transformation & Innovation, Wema Bank, Babatunde Mumuni; Head, Strategy & Investor Relations, Wema Bank, Femi Akinfolarin; Head, Data Transformation, Wema Bank, Olamide Jolaoso; and Team Lead, Corporate Social Investment, Wema Bank, Oluwatoyin Adetunji.

Other facilitators include the Managing Director, Impact Hub Lagos, Idowu Akinde; Managing Director, B4B Partners, Napa Onwusa; Startup Advisor and Scout, Onaopemipo Dara; Mentor at Google for Startups, Rosemond Phil-Othihiwa; Head of Growth, Africhange, Tega Ogigirigi; and Startup Advisor and Mentor, Ademola Adewuyi.

Hackaholics Accelerator is supported by Wema Bank’s broader innovation infrastructure, including IDEAx Labs, the Bank’s innovation and venture platform, and its corporate venture programme, which focuses on enabling startup growth through partnerships, infrastructure, and capital access.

Since its launch in 2019, Hackaholics has grown into one of Nigeria’s most influential youth innovation platforms, attracting over 15,000 applicants and supporting hundreds of digital solutions across multiple industries. Through the Hackaholics initiative, Wema Bank has disbursed over $400,000 in funding to young innovators and startup founders across Nigeria. Startups such as Feegor, Myitura, and Bunce are among those that have participated in previous editions of the program, reflecting the Accelerator’s focus on supporting growth-ready companies across diverse sectors. This second edition builds on that progress by helping startups move decisively from innovation to growth.

Photo caption:
L-R: Chief Talent Officer, Union Bank of Nigeria, Omayuli Wale-Ajayi; Head, Corporate Banking, Union Bank of Nigeria, Ali Kadiri; Head, Retail and SME Business, Union Bank of Nigeria, Vivian Imoh-Ita; Founder/Executive Director, Deaf International Foundation, Funmilola Ogunro; MD/CEO, Union Bank of Nigeria, Yetunde Oni; SouthWest Coordinator, Nigeria Association of the Blind, Adenike Olorundare; Women Leader, Lagos Chapter, Nigeria Association of the Blind, Olubukola Salako; Executive Director, Corporate Bank & Business Banking Lagos & West, Union Bank of Nigeria, Taiwo Shote; Chief Brand and Marketing Officer, Union Bank of Nigeria, Olufunmilola Aluko; Regional Executive, Business Banking SouthWest and Lagos, Union Bank of Nigeria, Emmanuel Aihevba, and Lead Innovation, Events and Platform Management, Union Bank of Nigeria, Chiamaka Moses during the Bank’s commemoration of International Women’s Day 2026 at the Stable, Surulere, Lagos recently.

Lagos, Nigeria – In observance of International Women’s Month 2026, Union Bank of Nigeria reaffirms its commitment to gender equity through a focused initiative centred on women living with disabilities and women raising children with disabilities.
Aligned with the global theme “Give to Gain,” the Bank’s campaign “Give to Gain: Creating Pathways for Inclusion and Endless Opportunities” centres the lived experiences of women living with disabilities and underscores the need for intentional systems of support for social and economic advancement.
Throughout March, Union Bank will implement targeted initiatives to expand access, foster inclusion, and unlock sustainable opportunities. Activities include a flagship event which held at The Stable, its multipurpose venue in Surulere, Lagos, on Saturday. The event convened women with disabilities, caregivers, supporting organisations, and advocates for dialogue, mentorship, and resource sharing.
Complementary efforts include outreach to disability support facilities and collaboration with educational institutions to distribute learning materials to female students with disabilities. Tailored mentorship programmes will build confidence and capability in education, entrepreneurship, and careers. Through its women’s banking proposition alpher and strategic partnerships, the Bank will also deliver business sustainability training specifically designed for women living with disabilities and women raising children with disabilities.
Internally, Union Bank will activate WeHub — its employee-led women’s network — to strengthen inclusive culture and support professional growth across the organisation.
These actions reflect Union Bank’s long-standing commitment to advancing equity for underserved communities — and align with the United Nations Sustainable Development Goals 5 (Gender Equality) and 10 (Reduced Inequalities). For Union Bank, these are not frameworks to cite; they are commitments to live out.
Olufunmilola Aluko, Chief Brand and Marketing Officer, Union Bank of Nigeria, stated that
“At Union Bank, inclusion is not an abstract ideal; it is a deliberate choice. While many conversations around women’s empowerment are important and necessary, women living with disabilities and women raising children with disabilities are too often left out entirely. This year’s theme, ‘Give to Gain,’ reflects exactly what we believe: that when we intentionally open access, support, and opportunity to these women, the value created extends to families, communities, and society at large.”
Union Bank’s IWD 2026 campaign is a statement of intent: that true inclusion requires us to go further, reach deeper, and serve those who have waited longest for a seat at the table. In 2026, Union Bank is committed to ensuring that a seat exists — and that it is built to last.
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Note to Editors:
About Union Bank of Nigeria Plc’s
Established in 1917, Union Bank is a leading provider of financial services in Nigeria, renowned for its “Simpler, Smarter Banking” philosophy. With a nationwide network and a strong focus on digital innovation, Union Bank continues to empower individuals, businesses, and the public sector to achieve lasting success.
The Bank is a trusted and recognisable brand with an extensive network of over 300 branches across Nigeria. The Bank offers a range of banking services to individual and corporate clients, including current, savings, and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing, and trade finance. The Bank also offers customers convenient electronic banking channels and products, including Online Banking, Mobile Banking, Debit Cards, ATMs, and POS Systems.
More information can be found at: www.unionbankng.com

Media Enquiries:
Olufisayo Adelekun
+234 (02) 01 330 7100
mediarelations@unionbankng.com

Lagos, Nigeria – March 5, 2026 – Quest Merchant Bank Limited has successfully met the ₦50
billion minimum capital requirement mandated for merchant banks by the Central Bank of
Nigeria (CBN) strengthening the Bank’s capital base and reinforcing its capacity to support
Nigeria’s economic transformation.
This milestone reflects investors’ continued confidence in the Bank’s long-term strategy,
strong governance, and sustainable growth outlook. It also marks an important step in the
Bank’s post-divestment evolution under its new ownership, positioning Quest Merchant
Bank with the balance-sheet strength needed to execute its next phase of growth.
With a significantly enhanced capital base, Quest Merchant Bank is now better positioned to
underwrite larger transactions and expand its advisory, capital markets, and structured
financing capabilities across priority sectors of the Nigerian economy.
The CBN’s recapitalisation directive, which sets ₦50 billion as the minimum capital threshold
for merchant banks, is designed to reinforce the resilience, stability, and lending capacity of
Nigeria’s financial system. By meeting this benchmark, Quest Merchant Bank reinforces its
standing as a trusted financial partner in infrastructure, energy, manufacturing, and
corporate growth initiatives nationwide.
Afolabi Olorode, Acting Managing Director and Chief Executive Officer of Quest Merchant
Bank, described the achievement as a defining moment in the Bank’s evolution:
“This milestone marks a significant step forward for Quest Merchant Bank. Meeting the ₦50
billion capital requirement underscores investors’ confidence in our strategy and reflects the
strength of our governance and franchise.
With this strengthened capital position, we are equipped to play an even greater role in
financing key sectors of the Nigerian economy, enabling private enterprise, and supporting
sustainable economic expansion.
Our focus remains clear. We will continue to continue to help our clients succeed, while
serving as a trusted long-term partner in delivering sustainable growth.”
Quest Merchant Bank remains committed to responsible growth, innovation, and delivering
strategic financial solutions that empower businesses and institutions across Nigeria.