SpaceNXT, Union Bank Nigeria Innovation Hub.

Nigeria’s Leading Financial Institution; Launches Future-Forward Innovative Co-Creation Hub, SpaceNXT


Tech World

April 8, 2022, 6:14 p.m.

Africa is increasingly a place where innovation begins. People worldwide now use mobile payment systems, first developed in Kenya. Renewable energy innovations on the continent are shaping a more sustainable future. The emerging digital technologies in air transport and tourism in Africa will exponentially improve connectivity on a global scale.

Expanding opportunities through technology is deeply becoming personal to leading players within Africa’s economic sector. The need to expose more people to technology is vastly predominant.

Digital entrepreneurship is widely believed to be an engine for Africa’s development in the 21st. Nigeria’s leading financial institution opens up a technology and innovation lab to drive the digital entrepreneurship ecosystem.

Built to promote innovation and encourage collaboration within the tech ecosystem in Nigeria, SpaceNXT is a future-forward purpose-designed co-working hub for innovators, creators and techpreneurs.


SpaceNXT is Union Bank’s co-creation space to encourage open innovation internally and in collaboration with our external community – emerging entrepreneurs, dynamic start-ups, and visionary problem solvers.

Located within the Union Bank Head Office in Lagos, Nigeria, SpaceNXT was set up to provide an enabling environment where tech enthusiasts, visionaries and creators can converge to propagate new ideas. It is a launching pad for innovators to collaborate, develop and improve digital systems and technology ideas.

Speaking on the benefits of SpaceNXT to the tech ecosystem. Lola Cardoso, Executive Director and Head, Retail Banking and Digital, Union Bank, said, “Globally, technology and innovation are key growth drivers, and here in Nigeria, the tech community is at the forefront of our ongoing digital revolution. To unlock the sector's massive potential, we must create an enabling environment that promotes collaboration and fosters strong partnerships within the ecosystem; this is why we launched SpaceNXT – to serve and enable the growth of the tech community.”

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The SpaceNXT launch event had Mr Tunbosun Alake, Special Adviser on Innovation and Technology, to the Governor of Lagos State. He officially opened the space alongside the executives of the Bank. “This is indeed a laudable moment for Union Bank. With the launch of SpaceNXT, Union Bank has established itself as a bonafide trusted partner for the future generation. SpaceNXT is a sandbox for culture change and an enabling lever to drive innovation and technology in Nigeria.” he said in his remarks during the ribbon-cutting ceremony.

DT Africa understands that SpaceNXT was conceived as part of the Bank’s mission to enable success for the tech community in Nigeria by providing a space that would foster collaboration within the ecosystem.

Emeka Okonkwo, Chief Executive Officer of Union Bank, shared the Bank’s reason for launching SpaceNXT. “For us at Union Bank, we believe the best way to predict the future is to create it. We are pushing beyond banking to take a strategic position as enablers of success within the tech and innovation industry. We are excited at the opportunity to enable the ecosystem and co-create a future that is brighter than we can imagine today”. He said.

The New Future

Besides being a hub for sharing and generating innovative ideas, SpaceNXT will also serve as a venue for tech and innovation events, hackathons, training and meetings. Union Bank remains committed to the acceleration of the technological landscape in Nigeria.

SpaceNXT Guest

tag: Nigeria, Co Creation Hub, Innovation Lab, tech hub,

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