Interswitch, the unicorn fintech giant and a cornerstone of Africa’s payment infrastructure, has officially launched the eighth edition of InterswitchSPAK, its nationwide STEM (Science, Technology, Engineering, and Mathematics) competition.
With a scholarship pool now exceeding ₦40 million, Interswitch is doubling down on its commitment to nurturing the next generation of engineers and data scientists.
This year, the company has introduced a major policy shift: Parents and guardians can now register their wards directly, bypassing the traditional school-only entry requirement.
The Prize Structure: A 5-Year Investment
Unlike one-off cash prizes, Interswitch’s prize model is designed as a long-term academic hedge for winners, spread across a five-year tertiary education cycle:
- Grand Prize: ₦15 million scholarship + monthly stipends.
- 1st Runner-up: ₦10 million scholarship + monthly stipends.
- 2nd Runner-up: ₦5 million scholarship + monthly stipends.
- The “Final 9”: High-performance laptops and technical tools for all top nine finalists.
Why “Parent-Direct” Registration Matters
By opening registration to individual parents (previously limited to school-sponsored groups), Interswitch is decentralizing access.
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This move addresses the “gatekeeper” problem where students in schools without active STEM coordinators were often left out of national opportunities.
“At Interswitch, we strongly believe that Nigeria’s future will be shaped by how well we nurture today’s young minds,” says Cherry Eromosele, executive vice president at Interswitch. “Season 8 remains focused on creating opportunity, rewarding merit, and inspiring excellence.”
The InterswitchSPAK 2026 Summary
Metric |
Details |
Eligibility |
Year 11 (SS2) Students |
Total Prize Pool |
₦40 Million+ |
Registration Deadline |
May 24, 2026 |
The Teacher Factor |
Enhanced rewards for teachers of the Top 9 finalists |
Selection Process |
CBT-based national qualifying exams |
Building the “Innovation Bedrock”
For a company that processes billions of transactions, Interswitch’s investment in STEM isn’t just philanthropy, it’s ecosystem maintenance.
The African tech space currently faces a massive shortage of homegrown senior engineers.
By identifying top talent in SS2 (Year 11), Interswitch is creating a “pre-seed” funnel for the local talent market.
Furthermore, by providing laptops and stipends, they are reducing the “digital divide” for high-performing students from lower socio-economic backgrounds, ensuring that merit, not just money, drives the future of Nigerian tech.
