Moniepoint Launches N3 Billion Innovation Hub Initiative at OAU

Fintech company, Moniepoint, on Monday launched its Innovation Hub at Obafemi Awolowo University as part of a N3 billion investment aimed at strengthening technology talent development across Nigerian universities.

The initiative was formally unveiled on Monday at Obafemi Awolowo University during a ceremony attended by vice chancellors of the three universities, industry stakeholders, student representatives, alumni, and members of Nigeria’s technology ecosystem.

According to the company, the initiative will see Moniepoint establish innovation hubs across three federal universities over the next three years. The institutions selected for the project are Obafemi Awolowo University, University of Nigeria, Nsukka, and Ahmadu Bello University.

Moniepoint said the universities were strategically selected to ensure that technology and innovation opportunities are spread across Nigeria’s major geographic regions instead of being concentrated in one city.

The company explained that each innovation hub would serve as a permanent training centre for students across all faculties, offering practical programmes in software engineering, artificial intelligence, data science, robotics, product development, design, entrepreneurship, and other technology-related disciplines.

According to Moniepoint, the hubs will operate through structured cohort-based programmes that combine mentorship, practical learning, and real-world project execution to improve students’ readiness for careers in the technology industry.

Speaking during the launch, Moniepoint Group co-founder and Chief Executive Officer, Tosin Eniolorunda, said the initiative was designed to build a sustainable pipeline of industry-ready technology talent within Nigeria.

“When you look at the success of companies like Moniepoint, it’s easy to forget that it all started with the foundational training we received right here in Nigerian universities,” he said.

“Nigeria’s digital economy cannot run on potential alone; it requires immense, localized talent density. By launching these Innovation Hubs beginning with OAU, UNN, and ABU Zaria, we are intentionally anchoring world-class technical skills across the country,” he added.

Eniolorunda also disclosed that the company plans to expand the initiative to other tertiary institutions in the future.

Vice Chancellor of OAU, Adebayo Simeon Bamire, described the partnership as a major boost for higher education and innovation in Nigeria.

“This partnership with Moniepoint Group is a powerful affirmation of our belief that knowledge must serve society,” he said.

“The Moniepoint Innovation Hub will not only expand what our students can learn but also transform what they believe is possible,” he added.

Beyond funding the physical hubs, Moniepoint said it would also provide curriculum support, mentorship opportunities, internship pathways, and expert-led learning sessions through its engineering, product, and business teams.

The company added that students participating in the programme would gain access to live projects and direct connections to Moniepoint’s network of engineers, investors, and industry leaders.

Moniepoint noted that the initiative builds on previous investments made through the Tosin Eniolorunda STEM Foundation, including the establishment of a CAD/CAM laboratory valued at over N100 million at OAU’s Department of Mechanical Engineering.

The company also referenced the HatchDev programme at University of Lagos, championed by Moniepoint co-founder and Chief Technology Officer, Felix Ike, in partnership with NiITHub innovation centre, which trains about 500 developers annually.