Wema Bank, a dominant force in the Nigerian financial sector and the pioneer behind ALAT, Africa’s first fully digital bank, has officially announced the top 20 finalists for the highly anticipated Hackaholics 6.0. This revelation follows an intense two-day pre-pitch event held on December 16 and 17, 2025, which served as the gateway to the grand finale. The emergence of these finalists marks a critical milestone in the bank’s ongoing commitment to fostering innovation and technological advancement among Nigerian youth.
The selection process for this year’s cohort has been particularly rigorous, designed to identify the most promising talent in the ecosystem. The top 20 finalists are evenly split between two distinct competitive streams: the Hackathon stream and the Ideathon stream. This dual structure highlights a strategic shift in how Wema Bank approaches innovation, recognizing that value can be created both by building new solutions from the ground up and by refining existing systems.
In the Hackathon category, the top 10 finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow, and VOC AI. These teams have demonstrated exceptional technical prowess and the ability to develop robust solutions that address pressing challenges.
Conversely, the Ideathon stream features PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI, and Cycle X. These groups were selected for their conceptual brilliance and their ability to envision optimized processes and efficiencies in various sectors.
Moruf Oseni, the Managing Director and CEO of Wema Bank, provided deep insight into the rationale behind this year’s format. He explained that Hackaholics has evolved significantly from its origins as a straightforward hackathon into a comprehensive platform for ideation. “For Hackaholics 6.0, the sixth edition, we decided to allow both the builders of new solutions and the refiners of existing ones to make a meaningful impact,” Oseni stated. He emphasized that true innovation is not solely about starting from scratch; it often involves identifying existing frameworks and developing novel ways to optimize them for greater efficiency. This philosophy underpins the unique two-stream structure of the competition.
The journey to the final stage has been exhaustive and widespread. The Hackaholics team embarked on a tour spanning seven different cities, engaging with a staggering 1,460 participants. From this massive pool of talent, hundreds of ideas were reviewed. While some concepts required further development, others showed immediate promise. Through a careful selection process, the bank shortlisted the top 43 contenders who then proceeded to the pre-pitch phase. Oseni noted the bank’s pride in the eagerness and motivation displayed by Nigerian youth, reaffirming Wema Bank’s role as an institution dedicated to providing the platform and resources necessary for these young innovators to succeed.
The pre-pitch sessions were a battleground of intellect and problem-solving, where the 43 shortlisted teams presented compelling pitches. Only the most viable and impactful solutions survived, resulting in the final 20 who have now secured their spots in the grand finale.
Scheduled for December 19, 2025, the grand finale promises to be a landmark event in Africa’s tech calendar. It will bring together key players from the technology and innovation ecosystems, offering the finalists a rare opportunity to showcase their creativity. Beyond the immediate competition, the event serves as a bridge to potential investors, offering visibility that could lead to funding opportunities far exceeding the competition’s prize pool.
The stakes for the finale are incredibly high, with substantial cash prizes on the line. In the Ideathon category, the winner will walk away with N25 million. The first runner-up will receive N20 million, and the second runner-up will be awarded N15 million. Additionally, demonstrating a commitment to inclusivity, N5 million has been earmarked for each of two women-led teams.
The Hackathon category prizes are equally impressive, with the winner set to receive N20 million. The second, third, and fourth-place winners will receive N15 million, N10 million, and N5 million, respectively.
As the countdown to the final showdown begins, Wema Bank has invited the public to witness the event live via their official YouTube channel, encouraging enthusiasts to join the conversation on social media using the hashtag #Hackaholics6. This event is not just a competition; it is a celebration of the ingenuity that defines the future of Nigeria’s digital economy.
