Business
Wema Bank Unveils ₦120 Million Prizes for Hackaholics 6.0 Finale
Wema Bank unveils ₦120M prize pool for Hackaholics 6.0 Grand Finale, supporting youth innovation, women-led projects, and transformative startups
Wema Bank, Nigeria’s pioneer of Africa’s first fully digital bank, ALAT, has announced a ₦120 million prize pool for the Hackaholics 6.0 Grand Finale, the bank’s flagship youth innovation competition.
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The announcement follows regional pitch sessions that saw 1,460 participants across seven cities, producing 35 finalist teams. The prize structure includes ₦25 million for the first-place Ideathon winner, ₦20 million for the runner-up, and ₦15 million for the second runner-up.
Hackathon prizes range from ₦20 million for first place to ₦5 million for fourth place. In addition, two women-led teams, one from each category, will each receive ₦5 million in recognition of female innovation.
MD/CEO of Wema Bank, Moruf Oseni, said, “Hackaholics continues to demonstrate the power of young people to shape the future of technology and nation-building.
Our investment reflects our commitment to giving them resources, mentorship, and a platform to transform ideas into real-world solutions.”
The 35 finalists emerged from eight pitch centres, including Ahmadu Bello University (ABU Zaria), Lagos State University (LASU), University of Uyo (UNIUYO), Babcock University, University of Ibadan (UI), Veritas University Abuja, and Purple Academy Lagos. Students received masterclasses, hands-on mentorship, and structured pitch development before competing before expert judges.
Finalists include 17 Ideathon teams, 12 Hackathon teams, and six women-led teams tackling challenges across fraud detection, customer experience, onboarding, credit management, and social impact solutions. All teams will participate in a three-day pre-finale mentorship programme ahead of the Lagos Grand Finale.
Medugu Wali, leader of Veritas University’s Hackathon-winning team, Tensor, said, “We built ‘Wallet Padi’ because it can genuinely improve how Nigerians manage their money.
Advancing to the pre-finale is a big step toward realising that vision, and we appreciate Wema Bank for creating this platform.”
Babcock University Ideathon winner Akobundu Gift and Veritas University women-led project winner Ogunlana Tosin praised the competition for its role in refining their ideas and promoting women-led innovation.
Since 2019, Hackaholics has attracted over 12,000 applicants across 15 schools, distributing more than $300,000 in funding. Between 2023 and 2024, ₦75 million was awarded to women-led teams. With the Hackaholics Accelerator and Collective Program launched earlier this year, Wema Bank continues to support early-stage founders beyond the competition cycle.
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The Hackaholics 6.0 Grand Finale will bring together investors, policymakers, industry leaders, and technology experts in Lagos for live pitches, product showcases, and the unveiling of Nigeria’s next generation of transformative founders.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has dismissed allegations that it appropriated the Niger Delta Economic & Investment Summit (NDEIS) brand, insisting it lawfully obtained trademark acceptance for the name and will proceed with its 2026 summit as scheduled.
In a statement issued on September 12, 2026, the chamber described claims by Kunle Nwiwa Junior as “cheap blackmail, misleading, mischievous and a misrepresentation of the facts,” maintaining that it independently developed the summit and followed all required regulatory procedures.
According to NDCCITMA, it applied for and received a Trademark Acceptance Letter for the name Niger Delta Economic & Investment Summit (NDEIS) in August 2025 under File No. NG/TM/O/2025/387284.
The chamber said the chronology of events contradicts allegations that it copied another party’s application, arguing that its trademark acceptance predated the period during which Nwiwa’s own application was reportedly still pending before the relevant authorities.
“Economic Summit” is a generic expression
NDCCITMA further argued that the phrase “Economic Summit” is a generic description widely used for conferences that bring together governments, investors, businesses, development institutions and other stakeholders to discuss investment and economic development.
The chamber maintained that while concepts may be widely used, legal protection only arises from recognised intellectual property rights, including duly registered trademarks and other enforceable proprietary interests.
It therefore rejected suggestions that any individual or organisation has exclusive ownership of the broader concept of an economic summit.
Court grants interim injunction
Addressing reports that the summit had been halted, NDCCITMA said the dispute is already before the Federal High Court in Port Harcourt and that there is no court order restraining the event.
The chamber disclosed that in Suit No. FHC/PHC/CS/57/2026, Justice Stephen Dalyop Pam granted an interim injunction restraining the defendants—Kunle Nwiwa Junior and Keneva Consult Ltd.—from interfering with the planned summit.
According to NDCCITMA, the court also directed the defendants to remove publications, notices, petitions, social media posts and other statements allegedly considered damaging to the chamber’s name, integrity and reputation pending the hearing of its motion for interlocutory injunction.
The matter has been adjourned until September 22, 2026 for further hearing.
Chamber rejects ₦500 million demand claim
NDCCITMA also alleged that it had received a demand from Nwiwa Junior requesting ₦500 million as a condition for abandoning his claims over the summit.
The chamber said the demand was rejected, adding that it subsequently petitioned the Inspector-General of Police over what it described as repeated harassment and threats directed at its officials.
It said the petition sought police intervention, including inviting the complainant for questioning and caution where necessary.
Summit opens September 15
Despite the legal dispute, NDCCITMA reaffirmed that the 2026 Niger Delta Economic & Investment Summit will hold from September 15 to 17, 2026, at the Obi Wali Conference Centre in Port Harcourt, Rivers State.
The summit will be held under the theme “Driving Investment, Innovation & Industrial Growth in the Niger Delta” and is expected to bring together policymakers, investors, business leaders, development partners and industry stakeholders to discuss economic transformation across the region.
The chamber said it remains committed to promoting commerce, industry, trade, mining, agriculture and sustainable economic development throughout the Niger Delta while allowing the courts to determine all outstanding legal issues.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
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