Wema Bank unveils N120m prize pool for Hackaholics 6.0 Grand Finale

Wema Bank has unveiled a N120 million prize pool for the Hackaholics 6.0 Grand Finale, following the selection of 35 finalist teams from regional pitch sessions held across Nigeria. The regional rounds attracted 1,460 participants from seven cities, showcasing some of the country’s most promising young innovators. Announcing the prize breakdown, Wema Bank’s Managing Director […]

Wema Bank has unveiled a N120 million prize pool for the Hackaholics 6.0 Grand Finale, following the selection of 35 finalist teams from regional pitch sessions held across Nigeria.
The regional rounds attracted 1,460 participants from seven cities, showcasing some of the country’s most promising young innovators.
Announcing the prize breakdown, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, explained that the N120 million will be distributed across multiple winning categories at the grand finale.
Under the Ideathon category, the first-place team will receive N25 million, while the first and second runners-up will be awarded N20 million and N15 million respectively.
For the Hackathon category, prizes include N20 million for first place, N15 million for second place, N10 million for third place and N5 million for fourth place. Additionally, two women-led innovations—one from each category—will receive N5 million each, reinforcing the bank’s commitment to promoting female participation in technology and innovation.
Speaking on the initiative, Oseni said Hackaholics continues to highlight the creativity and problem-solving capacity of Nigerian youths.
He noted that the bank’s investment reflects its belief in young innovators and its commitment to providing them with the tools, mentorship and platforms needed to turn ideas into impactful solutions.
The 35 finalist teams emerged from a competitive regional pitch process that received over 1,000 applications across eight pitch centres: Ahmadu Bello University, Zaria; Federal University of Technology, Akure; Lagos State University; University of Uyo; Babcock University; University of Ibadan; Veritas University, Abuja; and Purple Academy, Lagos.

Participants at each centre benefited from industry-led masterclasses, hands-on mentorship and structured pitch development sessions, which culminated in presentations before expert judging panels.

The finalists comprise 17 Ideathon teams, 12 Hackathon teams and six women-led teams, addressing challenges in areas such as fraud detection, customer experience, onboarding, customer acquisition, credit management and other social impact sectors. All teams will undergo a three-day pre-finale mentorship and shortlisting programme ahead of the Lagos grand finale.

The Hackaholics 6.0 Grand Finale will take place in Lagos, bringing together industry leaders, policymakers, investors and technology experts for live pitches, product demonstrations and the unveiling of Nigeria’s next generation of innovative founders.