News Highlights:
- Moniepoint will establish three innovation hubs in OAU, UNN, and ABU to train students in AI, software engineering, robotics, entrepreneurship, and product development.
- The ₦3 billion initiative aims to build industry-ready tech talent and strengthen Nigeria’s innovation ecosystem through mentorship, internships, and real-world project training.
In one of the most significant private-sector investments in Nigerian higher education in recent years, Moniepoint Inc has announced a ₦3 billion commitment to establish three Innovation Hubs across leading federal universities in Nigeria over the next three years.
The Moniepoint Innovation Hubs will be located at Obafemi Awolowo University, University of Nigeria, Nsukka, and Ahmadu Bello University.
The institutions were strategically selected to extend the impact of the initiative across Nigeria’s major geographic regions, reinforcing Moniepoint’s commitment to ensuring that access to innovation and opportunity is not concentrated in a single city or region, but equitably distributed in line with the country’s diversity and potential.
Each hub will serve as a permanent centre for practical training in software engineering, data science, artificial intelligence, design, robotics, product development, and entrepreneurship.
Open to students across all faculties, the programme is designed to move participants from curiosity to career readiness through structured, cohort-based learning, mentorship, and real-world project development.
The initiative was formally unveiled on Monday at the Obafemi Awolowo University during a ceremony attended by the Ooni of Ife, His Imperial Majesty Adeyeye Enitan Ogunwusi, Vice-Chancellors of the three universities, senior figures from academia and industry, a mammoth crowd of students, alumni, and members of Nigeria’s wider innovation ecosystem.
Co-founder and Chief Executive Officer, Moniepoint Group, Tosin Eniolorunda, in his remarks, said, “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. This initiative is about paying that trust forward. Nigeria’s digital economy cannot run on potential alone; it requires immense, localised 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. And this is just the first step as we look across other tertiary institutions. Before we built anything, universities like UNILAG and OAU built people like Felix and I, giving us our first formal training in the disciplines that became our careers.”
Eniolorunda continued, “Nigeria’s future will to a very large extent be built by Nigerians trained in Nigerian institutions. These three Hubs are my contribution to making that future credible by creating a solid pipeline for the emergence of great products and ideas.
“To truly scale our digital economy, we need high-density, industry-ready tech talent as a bulwark. We are investing these billions of Naira to ensure our tech ecosystem is powered by sustainable, homegrown excellence.”
OAU VC Hails Moniepoint, Says Alumni Support Transforming Campus Ecosystem
The Vice Chancellor, Obafemi Awolowo University, Professor Adebayo Simeon Bamire, stated that “Obafemi Awolowo University has always stood for excellence, and for the belief that knowledge must serve society. This partnership with Moniepoint Group is a powerful affirmation of that conviction.
“The Moniepoint Innovation Hub will not only expand what our students can learn but also transform what they believe is possible. We are grateful to Moniepoint for choosing to root this investment in our institutions, and we are committed to ensuring that every naira translates into opportunity for our students and for Nigeria.”
The Vice Chancellor commended Moniepoint Group for establishing the innovation hub at the university, describing the initiative as a major contribution to the institution’s drive to build a thriving technology and innovation ecosystem.
Bamire expressed gratitude to God and applauded the company, particularly its alumni leadership, for giving back to the institution. “On behalf of the council, senate, staff and students of this great institution, we thank you for what you are doing for this university,” the Vice Chancellor said.
He noted that the university had been actively attracting industry partnerships and alumni investments aimed at strengthening innovation, entrepreneurship and infrastructure development within the campus community.
According to him, the Moniepoint innovation hub is one of several landmark projects being undertaken by alumni and friends of the university to position OAU as a leading centre for technology and enterprise development in Nigeria.
Bamire disclosed that another innovation facility is currently being developed by a professor and alumnus of the institution, while a mentorship programme involving over 300 students and mentors has also been supported by alumni contributions.
The Vice Chancellor added that several other projects, including academic and legal support centres, are springing up across the campus through the intervention of notable alumni and partners committed to the university’s progress.
He said the institution’s vision is to create a technology-driven ecosystem capable of nurturing innovation, research and enterprise among students and faculty members.
While acknowledging the infrastructural challenges confronting the university, Bamire stressed that government resources alone would not be sufficient to address all the institution’s needs, hence the importance of private sector and alumni support.
He further prayed for continued success and divine blessings for the promoters of the Moniepoint innovation hub and other benefactors supporting the growth and development of the university.
Ooni Delighted That University Gave Birth to $2bn Company
In his remarks, Ooni of Ife, Adeyeye Enitan Ogunwusi, described the newly launched N3 billion Moniepoint Innovation Hub at Obafemi Awolowo University as a major milestone in the institution’s legacy of innovation, learning and national development.
The revered monarch said the project represents a powerful example of giving back to the institution that shaped the dreams and aspirations of many successful Nigerians.
The Ooni recalled that several years ago, while he was still a student at OAU, prominent businessman Jimoh Ibrahim visited the institution to support developmental initiatives, expressing delight that another successful entrepreneur has now returned to invest in the university community.
According to him, the latest intervention by Moniepoint carries deep significance because the fintech company itself was conceptualised within the OAU environment before growing into a globally recognised technology company.
“I am back at home, this university and this land — the same land where the idea of Moniepoint was conceptualised, the same land that gave birth to a multibillion-dollar company today,” the monarch said.
He noted that Moniepoint’s rise from a startup idea to a company valued at over $2 billion demonstrates the immense potential embedded in Nigerian universities when innovation, vision and determination are properly nurtured.
The royal father commended the founders and leadership of Moniepoint for remembering their roots and investing in future generations through the innovation hub initiative.
“For me, I bring royal blessings from the throne, and I want to thank you for what you are doing. A lot of people have passed through this university, and they have remembered the university,” he stated.
The Ooni further emphasised that the foundation of sustainable development lies in learning and culture, noting that both values remain central to the philosophy and identity of Obafemi Awolowo University.
He said the institution’s guiding principles have continued to shape generations of leaders, innovators and entrepreneurs across Nigeria and beyond.
“The basis of it is learning and culture. It is part of the motto of the university, it is the mantra of the university, and it has to do with everything we do,” he added.
Investment Will Drive National Innovation- ABU VC
The Vice Chancellor of Ahmadu Bello University, Professor Kabiru Bala, in his remarks, commended the launch of the N3 billion Moniepoint Innovation Hub at Obafemi Awolowo University, describing the initiative as a transformative investment that would strengthen innovation and create far-reaching impact across Nigeria and beyond.
Represented at the event by Professor Aliyu Sanusi, Deputy Vice Chancellor, Advancement, Research and Innovation, the Vice Chancellor praised Moniepoint and its co-founder, Tosin Eniolorunda, for giving back to the university community through a project designed to empower innovators and foster collaboration.
Professor Sanusi expressed appreciation to Eniolorunda for bringing stakeholders together and for choosing to invest in the university system. “It’s not only generosity, but it’s also community,” he said, noting that the innovation hub would create opportunities that extend beyond the walls of the university.
According to him, the facility would serve as a platform for strengthening innovation, building impact, and spreading opportunities across the country and internationally.
He described the initiative as a strong vote of confidence in Nigerian universities, adding that it demonstrates the belief by private sector innovators that meaningful results can emerge from investments in higher education.
Professor Sanusi also applauded Eniolorunda’s determination to challenge limitations and create opportunities for future generations rather than accepting the difficulties he may have faced during his time as a student. “He’s not just donating resources; he is donating a functional hub and everything required to make it work,” he stated.
The ABU Vice Chancellor further noted that while Eniolorunda had previously supported individuals through scholarships, the innovation hub represents a larger vision aimed at creating a shared space for learning, creativity, and technological advancement.
He said the initiative would provide young innovators with an environment to collaborate, develop ideas, and scale solutions capable of driving national development.
Professor Sanusi concluded by expressing gratitude on behalf of ABU Zaria and Nigerians at large, describing the project as a landmark contribution to innovation and education in the country.
“We can’t thank you enough. ABU Zaria is grateful. Nigeria is very grateful,” he said.
UNN VC Hails Innovation Initiative as Catalyst for National Development
Vice-Chancellor of the University of Nigeria, Nsukka, Prof. Uchenna Ortuanya, represented by the Deputy Vice-Chancellor (Academics), Prof. Kamoru Usman, said the initiative underscored the growing need for Nigeria to harness indigenous ideas, local research capacity and home-grown innovations as critical drivers of national development and sustainable economic growth.
Usman noted that the intervention was not only timely but also strategic, describing it as a significant contribution toward the preservation of knowledge, the restoration of human dignity and the empowerment of future generations through innovation, technology and research-driven solutions.
According to him, institutions of higher learning must continue to serve as centres for intellectual advancement and transformative ideas capable of addressing societal challenges and improving livelihoods across the country.
He commended the donors and partners behind the project for their commitment to advancing education, innovation and human capital development, adding that such collaborations remain essential for strengthening Nigeria’s research ecosystem and global competitiveness.
The Deputy Vice-Chancellor further assured stakeholders that the university would fully maximise the opportunities provided by the project, particularly in enhancing teaching, learning, research and innovation for the benefit of students, scholars and the wider academic community.
Hubs to Equip Next Generation of African Tech Builders
Beyond financial support, Moniepoint Inc will contribute deep industry expertise through curriculum development, mentorship, internship pathways, and expert-led learning experiences. The company’s engineering, product, and business teams will collaborate directly with each hub to ensure that training is not only globally relevant but also firmly grounded in the realities and demands of the modern African technology ecosystem.
The hubs are designed to be living institutions, not lecture halls, but launchpads of Nigerian excellence. Students will complete structured cohort programmes, work on live projects, and benefit from direct connections to Moniepoint’s network of engineers, investors, and industry leaders.
The goal is not simply to teach skills, but to produce the builders and problem-solvers who will shape the next chapter of Africa’s digital economy.
The ceremony, which attracted dignitaries from within and outside the University, included His Royal Majesty, Adeyeye Enitan Ogunwusi, Deputy Vice Chancellor, Academics, Professor G.A Aderounmu, Dean, Faculty of Technology, OAU, Professor L. E. Umoru, and Dean of the Faculty of Science, OAU, Professor O.A. Adesina.
Others are DVC Academic of UNN, Professor Kamoru O. Usman, DVC, Advancement, Research & Innovation, ABU, Professor Aliyu Sanusi, Former Head of Department, Mechanical Engineering, Prof. Obayopo, VP, People Operations, Moniepoint, Chinaza Nduka-Dike, SVP, Enterprise Network Sales, Ifeanyi Duru, amongst others.
It will be recalled that Moniepoint Innovation Hubs builds on earlier investments by the Tosin Eniolorunda STEM Foundation in building a CAD/CAM laboratory at the Department of Mechanical Engineering, OAU valued at over 100m naira and the HatchDev Program at the University of Lagos championed by Moniepoint’s co-founder & Chief Technology Officer, Felix Ike in partnership with NiITHub innovation centre where about 500 young developers are trained annually.
The initiative reinforces Moniepoint’s broader mission to create financial happiness for every African, everywhere, a mission that, the company believes, requires investing not only in financial infrastructure, but in the institutions and talent pipelines that will drive Africa’s future prosperity.
The N3 billion Moniepoint Innovation Hub is expected to provide students and young innovators with access to technology resources, entrepreneurial support, digital training and innovation opportunities aimed at strengthening Nigeria’s growing technology ecosystem.