Wema Bank has announced a N120 million prize pool for the Hackaholics 6.0 Grand Finale following 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 of Wema Bank, Moruf Oseni, disclosed that the N120 million will be awarded across several winning categories at the finale.
The Ideathon prizes include N25 million for first place, N20 million for the first runner-up, and N15 million for the second runner-up.
In the Hackathon category, the first to fourth place teams will receive N20 million, N15 million, N10 million, and N5 million, respectively.
In addition, two women-led innovations, one from each vertical, will receive N5 million each in recognition of Wema Bank’s commitment to advancing female participation in technology and innovation.
According to 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 to 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.
