Wema Bank has awarded N300 million to 11 winning teams at the seventh edition of its Hackaholics innovation programme, aimed at supporting the development and commercialisation of technology-driven solutions addressing economic and societal challenges. The funding was unveiled at the grand finale of Hackaholics 7.0, themed Festival of the Future, which took place in Lagos on November 6, 2026.
The competition drew over 5,329 participants and produced 1,632 ideas and innovative solutions across seven pitch centres located in Uyo, Kano, Yaba College of Technology, Benin, Ibadan, Enugu and Lagos. Following a nationwide selection exercise, 59 participants emerged as winners, while 21 finalists were shortlisted through a rigorous multi-stage evaluation process to compete for prizes across four categories: Startup/Ideathon, Social Impact, Women-Led and Hackathon.
The overall winner, Tony Niteon Nwose, founder of Niteon, received the N60 million grand prize for his agricultural technology solution that connects farmers to processors, financial services and markets. In the Startup/Ideathon category, Emmanuel Adeboje of Acceede came first runner-up with N40 million for an education-focused innovation, while David Lawani of All-Arbitrates secured third place with N20 million for a digital platform designed to improve access to arbitration and dispute resolution.
In the Social Impact category, Kabir Olaosebikan of Craft Planet was named winner, receiving N40 million for an innovation that converts plastic waste into sustainable building materials. Samuel Ayomide Shonubi of SocialSign came second with N30 million for a sign language technology solution aimed at improving communication and digital inclusion for people with hearing impairments, while Oluwaseyi Whyte Akinlolu of Harthio earned third place with N20 million for a mental wellness solution.
For the Women-Led category, Zainab Boluwatife Adeagbo of MamaAlert emerged as winner, receiving N20 million for a digital healthcare solution designed to improve women's access to timely healthcare services. Precious Zino of URI came second with N10 million for an artificial intelligence-powered marketing solution that helps businesses improve customer engagement and strengthen their digital presence.
In the Hackathon category, Kelvin Nnadi of Neural Forge was named winner, receiving N30 million for an AI-powered medical diagnostic solution. David Campbell of Nexa AI came second with N20 million for an AI-powered customer intelligence solution, while Uti Henry of Vhorde secured third place with N10 million for IRIS, an AI-powered smart glasses innovation designed to help visually impaired people navigate their surroundings independently.
Speaking at the event, Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank, said the funding reflected the bank's commitment to providing practical support for entrepreneurs developing solutions to pressing economic challenges. He stated: 'At Wema Bank, we believe that the future of our economy will be shaped by the ideas we recognise, nurture and invest in today. Across Nigeria, young innovators are developing remarkable solutions to challenges in agriculture, healthcare, education, financial services and several other sectors. Our responsibility is to ensure that these ideas receive the support and resources required to translate into meaningful impact.'
He added: 'With Hackaholics 7.0, we are putting our money where our mouth is. The N300 million awarded to this year's winners reflects our confidence in their ideas and our commitment to backing the next generation of entrepreneurs and technology leaders. We are investing in businesses that can create jobs, transform industries, unlock opportunities and contribute meaningfully to Nigeria's economic growth.'
The overall winner, Nwose, said the award would support efforts to expand his agricultural technology solution and strengthen its capacity to connect African farmers to international buyers. He said: 'I feel super excited, I give praise to God at the end of the day. We built a solution that connects African farmers to international buyers and we didn't just stop there, we want to be able to provide credit for them to grow from horizontal farming to greenhouse so beyond just export, beyond just straight finances we then what you to be able to process locally.'
Since its launch in 2019, Hackaholics has evolved into a platform for identifying and supporting entrepreneurial talent across Africa. According to the bank, the initiative has recorded more than 21,000 applicants across seven editions, engaged over 50,000 participants, supported more than 10,000 startups across three countries and contributed to the development of over 100 solutions from scratch. The latest edition featured innovations spanning agriculture, healthcare, education, environmental sustainability, financial services and artificial intelligence, highlighting the growing role of technology-driven enterprises in addressing development challenges. The bank said the N300 million investment was part of its sustained commitment to helping emerging businesses move beyond the idea stage through funding, mentorship, industry exposure and access to networks needed to scale their solutions.