Wema Bank has announced the seventh edition of its flagship innovation programme, Hackaholics, unveiling an expanded platform aimed at empowering young Nigerian innovators, startups and technology entrepreneurs. The announcement was made on Tuesday at the bank’s headquarters in Lagos.
The 2026 edition, themed “Powering Possibilities,” introduces three competition tracks, seven innovation verticals and multi million naira grant prizes as the financial institution seeks to deepen support for Africa’s growing technology ecosystem.
Since its launch in 2019, Hackaholics has evolved into one of Nigeria’s leading innovation platforms, providing aspiring entrepreneurs with funding opportunities, mentorship, visibility and business development support. The initiative reflects Wema Bank’s long term commitment to digital innovation and youth empowerment.
According to the bank, the programme has supported more than 10,000 startups, attracted over 50,000 participants, produced more than 100 technology solutions and rewarded outstanding innovators with grants valued at about $500 million across its previous six editions.
This year’s competition will begin with an open call for applications from innovators across seven strategic sectors including Financial Inclusion, Healthcare, Digital Transformation, Education, Sustainability, Social Impact and the Future of Work.
Applicants are expected to register through the Hackaholics portal under any of the three available categories namely the Startup Pitch Competition, Hackathon and the newly introduced Social Impact Track, which is designed to recognise innovations delivering measurable social value.
Following the application phase, the organisers will embark on a nationwide innovation tour covering 10 pitch centres across Nigeria’s six geopolitical zones. The regional events will provide innovators with the opportunity to present their solutions before expert panels.
Outstanding participants from each regional pitch centre will qualify for the national grand finale where the most innovative ideas and technology driven solutions will compete for grant funding, recognition and wider market exposure.
Speaking at the unveiling, the Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, said the institution remains committed to supporting innovation as a catalyst for economic transformation and sustainable development across Africa.
Oseni noted that the bank’s responsibility extends beyond conventional banking services, stressing that corporate institutions must create opportunities, nurture innovation and provide platforms capable of transforming the ideas of young people into scalable businesses.
He explained that the consistent growth of Hackaholics over the past seven years demonstrates the impact of sustained investment in entrepreneurship, adding that the initiative continues to strengthen Nigeria’s innovation ecosystem while creating pathways for future business leaders.
Also speaking, the Divisional Executive, Business Support, Tajudeen Bakare, described Hackaholics 7.0 as another milestone in the bank’s mission to equip Nigerian youths with the tools required to compete in today’s rapidly evolving digital economy.
Bakare urged young innovators, software developers and startup founders across the country to seize the opportunity by submitting innovative solutions capable of addressing real life challenges while contributing to national development.
Participation in Hackaholics 7.0 is free, with applications open to eligible Nigerian youths and startup founders with technology driven solutions. Successful applicants will benefit from mentorship, networking opportunities, investor exposure and access to grant funding.
With the expanded competition structure, broader innovation focus and increased funding opportunities, Wema Bank is positioning Hackaholics 7.0 as its most ambitious edition yet, reinforcing its reputation as a leading driver of innovation, entrepreneurship and digital transformation in Nigeria.
Hackaholics 7.0 is free, and open to any Nigerian youth who has innovative ideas and solutions to pitch. Interested startups and innovators can apply at hackaholics.wemabank.com. All updates on the Hackaholics 7.0 journey will be made available on the Bank’s website @wemabank.com as well as its social media platforms @wemabank and @alat_ng.