Wema Bank has announced the seventh edition of its flagship innovation programme, Hackaholics, introducing three competition tracks, seven innovation verticals and millions of naira in grant prizes aimed at supporting young Nigerian innovators and startups.

The announcement was made on Wednesday during a press conference held at the bank’s headquarters in Lagos.

Launched in 2019, Hackaholics is Wema Bank’s youth-focused technology initiative designed to provide a platform for young Africans with innovative, technology-driven ideas to develop and scale their solutions.

According to the bank, the programme has supported more than 10,000 startups, engaged over 50,000 participants, developed more than 100 solutions from scratch and awarded grant funding to dozens of innovators across its first six editions.

The seventh edition, themed “Powering Possibilities,” will begin with an open call for applications, inviting innovators to submit solutions across seven focus areas: Financial Inclusion, Healthcare, Digital Transformation, Education, Sustainability, Social Impact and the Future of Work.

Applicants are expected to register through the Hackaholics portal under one of three categories—the Startup Pitch Competition, the Hackathon or the newly introduced Social Impact Track.

Following the application phase, the competition will embark on a nationwide tour covering 10 pitch centres across Nigeria’s six geopolitical zones. Successful participants from each regional pitch event will qualify for the grand finale, where the overall winners will be selected.

Speaking at the launch, the Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, said the initiative reflects the bank’s commitment to empowering young innovators and strengthening Africa’s innovation ecosystem.

“At Wema Bank, we believe that institutions have a responsibility that extends beyond providing commercial services. We have a responsibility to create meaningful opportunities, provide the right resources, enable innovation to thrive, and support the ecosystems that will shape today’s youth as well as tomorrow’s economy,” he said.

Oseni noted that Hackaholics has evolved into a platform that nurtures the next generation of innovators while contributing to economic development through technology-driven solutions.

Also speaking, the bank’s Divisional Executive for Business Support, Tajudeen Bakare, encouraged young Nigerians with innovative ideas to participate in the programme.

“As we launch Hackaholics 7.0 today, we are opening up a new phase of opportunities for more Nigerian youth to challenge themselves, explore their creativity and become startup founders,” Bakare said.

He added that the initiative is designed to foster an environment where innovation thrives and young people are equipped to develop solutions that address societal challenges while creating economic opportunities.

Wema Bank said participation in Hackaholics 7.0 is free and open to Nigerian youths with innovative technology-based ideas. Interested innovators and startups can submit their applications through the Hackaholics portal, while updates on the competition will be published on the bank’s website.