Wema Bank has concluded its sixth edition of the Hackaholics initiative with a massive financial boost for Nigeria's emerging tech talents. The bank disbursed a total of N120 million in cash prizes at the grand finale of Hackaholics 6.0, marking a significant investment in the country's innovation ecosystem.
Grand Finale Showcases Top Tech Solutions
The competition culminated after an intense nationwide process that began with 1,460 participants. From this pool, 35 finalist teams emerged to compete for the ultimate prizes. The event featured two main categories: Ideathon and Hackathon, each with substantial rewards for the top performers.
In the Ideathon category, the innovative engine Chao, designed to help food vendors operate more efficiently and scale their businesses, claimed the top prize of N25 million. The first runner-up, VARSITY SCAPE, won N20 million, while FARMSLATE secured the second runner-up position and N15 million. SANE AI placed fourth, receiving N5 million.
The Hackathon category was dominated by VOC AI, a voice of customer software development kit that transforms everyday notifications into actionable feedback. This solution won the first-place prize of N20 million. Subsequent places received N15 million, N10 million, and N5 million for second, third, and fourth place, respectively. An additional N5 million was awarded to FERTITUDE as the winner of the Women-Led category prize.
A National Hunt for Innovation
The road to the finale was a rigorous nationwide search. Regional pitch sessions were held across eight centres in key academic and tech hubs:
- 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
- Purple Academy Lagos
At each location, participants benefited from industry-led masterclasses, hands-on mentorship, and structured pitch development sessions. These preparatory stages honed their ideas before the final presentations before a panel of expert judges.
Banking on Nigeria's STEM Future
Speaking at the event, the Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, congratulated the winners and urged Nigerian youths to continue exploring innovation. He framed the bank's support as a core strategic imperative, not just corporate social responsibility.
"For eight decades, we have stood as Nigeria’s longest surviving indigenous bank, waded market storms, adapted to countless disruptions, transformed alongside our nation over the decades, and spearheaded innovation in banking," Oseni stated. "With Hackaholics, we decided to go beyond being innovators to becoming the Bank that empowers innovators even from as early as their undergraduate years."
He emphasized the bank's recognition of the pivotal role of Science, Technology, Engineering, and Mathematics (STEM) in shaping Africa's future. "We recognise that the future of this continent will be built on the bedrock of STEM, which is why our dedication to youth and STEM education is more than just CSR, it is a strategic imperative that we do not compromise on," Oseni declared. "We are not just providing platforms, we are investing in the youth, financially, intellectually, and in every other way that matters."
The Hackaholics 6.0 initiative underscores Wema Bank's long-standing commitment to fostering innovation and empowering the next generation of Nigerian tech leaders. By providing both capital and capacity-building support, the bank is actively investing in the human capital required to drive the nation's digital economy forward.
