By Juliet Umeh

Zenith Bank has reiterated its position as a frontrunner in Nigeria’s digital transformation journey as it hosted the fifth edition of its flagship tech fair, Future Forward 5.0, at Eko Hotels & Suites, Lagos.

The event featured a hackathon, product exhibitions and a start-up pitch competition, with finalists set to enter a mentorship and incubation programme aimed at refining and scaling their solutions.

Founder and Chairman of Zenith Bank, Dr. Jim Ovia, said the annual fair reflects his long-standing commitment to empowering young people through technology. According to him, the bank’s vision is built on “creating opportunities for Nigeria’s youth to redefine innovation and place the country among global technology leaders.” He praised the bank’s workforce for “sustaining the culture of innovation in spite of economic headwinds.”

Group Managing Director and Chief Executive Officer, Dame Dr. Adaora Umeoji, said this year’s theme -Tech for Success: Innovate, Adapt, Accelerate – underscores the bank’s resolve to embrace technologies shaping the future of financial services. She noted that Nigeria was already living through a technological shift where tools like digital platforms, drone services, electric vehicles, virtual learning and robotic surgeries “have moved from seeming distant to becoming the global standard.”

Umeoji credited Dr. Ovia for laying the foundation of Zenith Bank’s tech-driven culture since the 1990s. She recalled the bank’s early introduction of innovations now common in the industry, including ATM galleries, off-site ATMs, internet banking, SMS/email transaction alerts and modern POS devices. She also acknowledged the support of the Central Bank of Nigeria and the Federal Government in backing the bank’s digital evolution.

She observed that global technological acceleration is unfolding at unprecedented speed, adding that most of the world’s data was generated within the last two years, while artificial intelligence is projected to grow by over 28 per cent annually through 2030. She also cited rising momentum in renewable energy technologies and blockchain, whose global market value is expected to reach several hundred billion dollars by the decade’s end.

On the risks associated with digital expansion, Umeoji raised concerns over the rising threat of deepfakes, referencing a recent doctored video of her circulated online. She described it as “a wake-up call for stronger digital protections,” urging innovators to create technologies that solve real problems while safeguarding users.

She stressed that Zenith Bank’s investments in youth empowerment, ICT centres across Nigeria and support for university digital transformation demonstrate its sustained commitment to the tech ecosystem. Highlighting the bank’s evolution from Zenith 2000 to Phoenix, T24/Mysis and now Oracle Flexcube, she said the institution remains focused on operational excellence. 

Lagos State Governor Babajide Sanwo-Olu, represented at the event, hailed Dr. Ovia as one of the first champions of digital adoption in Nigeria’s banking sector, saying many young people may not know how many innovations originated under his leadership. He also commended Umeoji and the board for empowering young innovators through the hackathon and pitch competition.

In her keynote titled From Possibility to Practice: Unleashing GenAI and Agentic AI Full Potential, AWS Chief Technologist for MET&A, Dr. Shivagami Gugan, outlined how global organisations are now deploying generative and agentic AI at scale. She said 2025 marks the year businesses move “from experimenting to delivering measurable value,” urging Nigerians to seize the moment.

Co-creator of Skype, Mr. Jonas Kjellberg, who delivered one of the day’s most inspiring sessions, reaffirmed his passion for Africa’s tech future. “It’s a big honour to be here,” he said. “I believe Africa will be the next continent for big innovation, and I’m going to spend most of my money and my energy investing in Africa.”