OAU student digital innovator wins ₦50m Nigerian Government’s S-VCG Grant Award

*Fluxt, the conversational, multilanguage and multi-currency financial platform startup of Caleb Pamilerin Sobaloju, a student of Obafemi Awolowo University, Ile-Ife, Nigeria, wins the Federal Government’s Student Venture Capital Grant ₦50 million equity free funding out of over 30,000 applicants across more than 400 educational institutions at the UNDP Innovation Hub, in Lagos

Isola Moses | ConsumerConnect

Mr. Caleb Pamilerin Sobaloju, a student digital innovator from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria, has won the Federal Government’s Student Venture Capital Grant (S-VCG) ₦50 million equity free funding at the UNDP Innovation Hub, in Lagos.

ConsumerConnect reports the authorities of OAU, who disclosed this development affirmed the ₦50 million equity-free grant recognises Financial Technology (FinTech) innovation, and positions the University as “a hub for student entrepreneurship” in the West African country.

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Sobaloju’s Startup named Fluxt, which won and received the funding award March 29, 2026, is described as a conversational financial platform designed to offer digital and financial literacy, as well as simplifying how consumers access and use financial services.

The University, fondly called “Great Ife” by both students and friends of the University, in a message via its verified social media account, also noted the digital platform enables consumers to send, receive, and manage money through chat or voice commands, removing the need to navigate complex banking applications, especially in the Nigerian financial ecosystem.

Key features of digital platform Fluxt

The OAU stated: “The platform supports multiple currencies, including Naira (NGN), US Dollars (USD), and stablecoins, and is being built to function across different literacy levels.

“Users can interact with Fluxt in local languages such as Yoruba, Hausa, and Igbo, as well as English, making it accessible to a wider population.”

As regards the central benefits of the digital platform, Fluxt is focused on solving the problem of financial exclusion and complexity, particularly in emerging markets where over 1.7 billion people remain underserved or excluded from formal financial systems.

The tertiary institution of learning further explained even among those with access, existing solutions often require digital and financial literacy that several consumers do not have.

According to OAU, Sobaloju’s Fluxt addresses these challenges by providing a simplified, conversational interface that allows users to interact with financial services in a natural and intuitive way.

The University noted the key features of the digital platform include Sending and receiving money via chat or voice; Multi-currency wallet (NGN, USD, stablecoins); Local and cross-border payment capabilities; Language support for accessibility; and Financial insights and assistance through a built-in financial co-pilot.

How Sobaloju’s pitch won N50m S-VCG grand prize

Giving insight into how Sobaloju’s pitch won the grand prize of N50 million, the University authorities said: “Fluxt was selected as one of the winners of the Student Venture Capital Grant (S-VCG), a Federal Government of Nigeria initiative launched by the Ministry of Education to support student-led innovations.

“Out of over 30,000 applicants across more than 400 institutions, Fluxt was shortlisted, participated in an intensive selection process and bootcamp, and emerged as one of the final recipients.”

Explaining the fundamental reason for the award the OAU said Fluxt reeived the ₦50,000,000 in equity-free funding “to support product development, infrastructure, compliance, and user growth.”

“Fluxt represents a step toward inclusive financial innovation by addressing both access and usability challenges,” the University averred.

It also emphasised that with the support of the S-VCG programme, the digital platform is positioned to “scale its impact and contribute to expanding financial access across Nigeria and beyond.”

The authorities added: “This innovation award reinforces OAU’s commitment to strengthening research, innovation, and development across the University, while inspiring students to transform their ideas, imagination, and creativity into impactful solutions.”

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