Wema Bank has reaffirmed its commitment to youth empowerment, innovation and digital transformation with the successful conclusion of the grand finale of its flagship innovation programme, Hackaholics. The event, which brought together some of Nigeria’s brightest technology talents, marked the climax of months of intense competition, mentorship and solution development aimed at addressing real-life economic and social challenges through technology.
The Hackaholics initiative, driven by Wema Bank’s innovation arm, ALAT, is designed to identify, nurture and support young innovators with scalable ideas capable of driving financial inclusion, business efficiency and national development. At the grand finale, finalists drawn from different parts of the country pitched their solutions before a panel of industry experts, investors and technology leaders.
Speaking at the event, the Managing Director and Chief Executive Officer of Wema Bank described Hackaholics as more than a competition, noting that it represents the bank’s long-term vision of building a sustainable innovation ecosystem in Nigeria. According to him, the initiative aligns with the bank’s digital-first strategy and its belief that technology and youth-led innovation are critical to economic growth.
He explained that Wema Bank has consistently invested in platforms that empower young people to turn ideas into viable businesses, adding that Hackaholics provides not just funding but also access to mentorship, networks and enterprise support. The CEO emphasised that many of today’s global technology successes began as small ideas nurtured in the right environment.
During the finale, participating teams showcased solutions across sectors such as fintech, agritech, health technology, education, cybersecurity and e-commerce. The innovations were judged based on originality, scalability, market relevance and potential impact on individuals and businesses. The high quality of presentations underscored the depth of Nigeria’s growing tech talent pool.
Winners of the competition received cash prizes, incubation support and opportunities to collaborate with Wema Bank and its partners. Beyond the prizes, finalists were given access to capacity-building programmes designed to help refine their products, strengthen their business models and prepare them for market entry and investment.
Representatives of the bank noted that Hackaholics is structured to bridge the gap between ideas and execution. Many young innovators, they said, struggle not because of a lack of creativity, but due to limited access to funding, mentorship and institutional support. The programme was therefore created to remove these barriers and provide a launchpad for sustainable innovation.
Participants at the event commended Wema Bank for its consistency in supporting Nigeria’s tech ecosystem. Some finalists noted that the experience exposed them to practical business insights, investor expectations and the importance of building solutions that address real customer needs. They added that the mentorship sessions were particularly valuable in helping them refine their ideas.
Industry stakeholders present at the finale described Hackaholics as a model for how financial institutions can contribute meaningfully to innovation and entrepreneurship. They noted that banks play a critical role in shaping the future of the digital economy by supporting early-stage ideas that can eventually create jobs and expand access to financial services.
Wema Bank’s innovation leadership reiterated that the bank’s interest in technology goes beyond branding, stressing that digital transformation is central to its operations and service delivery. As Nigeria’s oldest indigenous bank, the institution has repositioned itself as a technology-driven organisation, with ALAT playing a key role in attracting young, digitally savvy customers.
According to the organisers, the Hackaholics initiative has, over the years, trained thousands of young people, supported startups and fostered collaboration between innovators, corporates and investors. They added that several past participants have gone on to build successful ventures and secure funding after gaining exposure through the programme.
The finale also featured panel discussions and networking sessions where participants engaged with technology experts, venture capitalists and business leaders. Discussions focused on funding challenges, scaling startups, regulatory considerations and the future of innovation in Nigeria’s digital economy.
As the event concluded, Wema Bank pledged to sustain and expand the Hackaholics platform, with plans to reach more young innovators across the country. The bank said future editions would place greater emphasis on solutions that promote financial inclusion, support small and medium-sized enterprises and address pressing national challenges.
With initiatives like Hackaholics, Wema Bank continues to position itself as a key enabler of innovation and youth empowerment, reinforcing the role of the private sector in shaping Nigeria’s digital and economic future.
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