Open Payments Curriculum: Empowering a New Generation of Fintech Entrepreneurs — ILF Grant Progress Report

Jonathan Oluranti — Mon, 31 Aug 2026 19:17:00 +0000

Brief Project Description

The Interledger Foundation NextGen Program at Covenant University is an innovative educational initiative designed to equip students with the knowledge, skills, and practical experience needed to build the next generation of inclusive digital financial systems. It aims to achieve this by integrating Interledger Protocol (ILP), Web Monetization, and open payments technologies into computing and business programs.

The initiative introduces two new courses covering open payments, financial interoperability, fintech innovation, and entrepreneurship, supported by teaching and practical sessions as well as capstone projects. Students will gain hands-on experience by developing ILP-based applications, fintech prototypes, and interoperable payment solutions. Experiential learning activities include innovation bootcamps, hackathons, developer workshops, mentorship programs, and expert-led webinars.

The project aligns with the Interledger Foundation’s mission of advancing open, interoperable financial systems and promoting digital inclusion across Africa. Ultimately, it seeks to nurture a new generation of fintech entrepreneurs capable of driving financial innovation and expanding adoption of open payment technologies.

Project Update

The Interledger NextGen program at Covenant University has made significant progress since its commencement in March, 2026.

Curriculum Design, Development and Launch of Two Dedicated Open Payments Courses
We successfully designed, developed and launched two university-level Open Payments courses focusing on Open Payments, the Interledger Protocol (ILP), Web Monetization, and Financial Inclusion. The curriculum comprises four modules and sixty learning units, which we plan to integrate into Computing and Business programs. The period under review (March – August) has witnessed the focused application of the developed curriculum for hands-on training in open-payment technologies thereby preparing students for careers in open-source fintech, interoperable payment design, and digital financial inclusion.

Student Engagement and Capacity Building
As regards students’ engagement and capacity building, we initially had about 253 students who indicated interest to participate in the program when the first advert went out. However, 35 students from Computer Science, Information Systems, Accounting, Economics, and Entrepreneurship programs eventually made it and are actively participating in all aspects of the training.

The interest shown by the students actually exceeded expectations which lead to the formation of interdisciplinary innovation teams focused on solving local financial inclusion challenges.

Open Payment Innovation Week and Demo Day Event
Some major activities held within the period under review were the Open Payments Innovation Week and Demo. The open payments innovation week was dedicated entirely to problem solving, building and prototyping. Students were divided into in teams to build payment solutions utilizing the Interledger Protocol and Rafiki. The demo day presented opportunity for the students to present as well as pitch their ideas following the week-long training them. We had judges from the industry while Bibi represented Interledger team. The feedbacks received were quite instructive and have helped the teams to improve on their initial idea.

Activation of Micro Grants for Student-Driven ILP Projects
In late July, we activated the micro grants to provide financial support to the six teams who pitched their project ideas on the demo day in order to achieve student driven ILPL projects. We are glad to report that five of the teams have completed functional prototypes of their solutions using the ILP and have deployed them accordingly. The next phase will be the real-life demonstration of these solutions with actual intended users. Here are the links to the prototypes:

https://paylance-gmc1.onrender.com/
https://payzati.vercel.app/
http://seamlyy.vercel.app
https://rheodemymvp.vercel.app/
https://nexafund.vercel.app/

Our website for the entire program is nearing completion and will accommodate the complete course material, video recordings of various sessions and presentation slides.

Project Impact & Target Audience(s)

Objective i: Design, Launch and Institutionalize an Interdisciplinary Open Payments Curriculum

Significant progress has been made toward the development and institutionalization of the Open Payments Curriculum. Curriculum design activities were completed through consultations with faculty members from Computer Science, Information Systems, Finance, and Entrepreneurship disciplines. Two interdisciplinary course modules—Foundations of Open Payments and Financial Interoperability and Fintech Innovation and Open Payment Entrepreneurship—were developed and aligned with Covenant University's academic standards.

Objective ii: Technical Capacity & Infrastructure Development for 35 Participants
We recruited students and developers to participate the in the technical capacity-building activities that successfully commenced early April. A total of 35 participants were selected through a competitive application process. Foundational training sessions have been delivered, providing students with practical exposure to Open Payments technologies and the Interledger ecosystem.

Objective iii: Establish a Certification Program on Open Payments with at Least 80% Participant Completion Rate
The certification framework has been developed and integrated into the training program. Assessment instruments and competency evaluation criteria have been established to measure participant understanding and practical skills. Participants are progressing through the certification pathway, with completion rates currently tracking toward the targeted 80% benchmark.

Objective iv: Produce Five Pilot Projects
We successfully divided the students into seven (7) teams that comprised of a mix of science, engineering and business students. The teams have since commenced the ideation and development of pilot projects addressing real-world payment interoperability and digital inclusion challenges. At least four of the seven teams have completed their projects and deployed them. The other teams are not relenting also.

Objective v: Publish Open Educational Resources (OERs) and Policy Briefs
Development of openly accessible educational resources is underway. Initial teaching materials, practical guides, and workshop contents are being compiled for publication. Research work has also begun on policy briefs that highlight the role of interoperable payment systems in advancing digital inclusion and fintech innovation in Nigeria and Africa.

Communications and Marketing

Since the launch of the Interledger Next Gen Program at Covenant University, we have actively shared project activities, milestones, and learning outcomes through multiple public channels to increase awareness of Open Payments, the Interledger Protocol (ILP), and fintech innovation among students, educators, and the broader technology community. Our public engagement efforts have included:

• Publication of project updates and announcements through Covenant University communication channels and social media platforms.
• Presentations and information sessions introducing the Interledger ecosystem, Open Payments, Web Monetization, and financial interoperability concepts to students and community innovators.

Use of Marketing and Outreach Funds
In respect of the marketing funds included in the project budget, they were utilized to support participant recruitment exercise, awareness creation, and community engagement activities. Expenditures included:
• Design and production of digital promotional materials (flyers, banners, social media graphics, and event announcements).
• Event branding materials used during training sessions and outreach activities.
• Documentation and dissemination of project outcomes through digital media channels.
• Production of communication materials highlighting participant achievements and project impact. Here is the link to most recent one carried out:

https://1drv.ms/v/c/21d49bd80eaff14c/IQAYYxBNTe_zQLQBeOuTXSv3AUiMEhVndRC5VR9T4Jhw368?e=OSOqUj

These outreach efforts have contributed to increased visibility of the Interledger ecosystem within the university community, expanded participation in project activities, and strengthened awareness of Open Payments technologies among students, educators, and aspiring fintech entrepreneurs.

What’s Next?

Hackathons and Student Innovation
In next half of this project, we plan hosting a campus-wide Open Payments Hackathon that will attract more than 20 student teams. The Hackathon will cover the following solutions:
• Cross-border student payment systems.
• Scholarship and bursary disbursement platforms.
• Digital marketplaces leveraging Web Monetization.
• Micro-savings solutions for underserved communities.

We will ensure that successful projects advance to the incubation stage for further development towards making them market ready fintech startups.

First ever Open Payments Conference in Nigeria
In November this year, we plan hosting an Open Payments Conference, the first ever in Nigeria and possibly West Africa. This will bring together thought leaders, students, researchers, fintech professionals, and policymakers to discuss the future of open and inclusive financial systems.

Improved Public Dissemination and Community Engagement
We plan to improve on our public dissemination and community engagement activities by actively sharing project activities, milestones, and learning outcomes through multiple public channels to increase awareness of Open Payments, the Interledger Protocol (ILP), and fintech innovation among students, educators, and the broader technology community.

Our public engagement plans include:
• Publication of project updates and announcements through Covenant University communication channels and social media platforms.
• Presentations and information sessions introducing the Interledger ecosystem, Open Payments, Web Monetization, and financial interoperability concepts to students and community innovators.

Finalize the development of Openly Accessible Educational Resource
We also plan to finalize the development of openly accessible educational resources. We shall conclude the compilation of all teaching materials, practical guides, and workshop contents for publication. We also endeavor to conclude the ongoing research work on policy briefs that highlight the role of interoperable payment systems in advancing digital inclusion and fintech innovation in Nigeria and Africa.

Community Support

Public Relations Rollout across Nigeria, Africa and Global Media Channels
We aim to execute a strategic public relations campaign targeting top-tier media outlets across Nigeria and Africa. This will involve distributing tailored press releases, securing feature stories, and arranging interviews with key digital, and broadcast networks where necessary. We desire all forms of support from the ILF Marketing team in terms of deciding on the timeline and PR messaging. We are looking forward to ILF support by way of introduction to PR expert in South Africa.

Covenant University Next Gen Hackathon
During this Hackathon week by second week of November, we would be having technical and product office hour sessions to support students and the wider builder's community on campus to integrate Open Payments and Web Monetization. We would great appreciate the involvement of the engineering executive from the ILF. We desire 2 or 3 judges from the ILF team or community to evaluate our students’ projects

Open Payments Conference and Hackathon Finale
The Open Payments Conference combines a high impact tech conference with the thrilling conclusion of the Covenant University Next Gen Hackathon. Industry leaders, developers, and Next Gen students will gather for expert keynotes and deep dives into Open Payments, financial inclusion and financial interoperability.

The conference culminates in the hackathon finale, where top teams will pitch their innovative open payment solutions to a panel of judges. We would be glad to have 2 or 3 speakers from Interledger Foundation for Keynote and Spotlight Sessions in the Conference.

Open Payments Conference (Marketing and Branding)
We would like to have the support of the ILF teams with respect to the Marketing and Branding aspects of our forthcoming Open payments conference in November. We would like to sync appropriately with the Marketing team from ILF on Marketing efforts for the Open Payments Conference. This will include:
• Design and Branding of Conference Materials (Stickers, Merch, Swag items)
• Marketing support, timeline and alignment with the ILF Marketing team

Community Share-out Sessions
We also require the support of ILF team for a 5 - 10 minutes monthly slot starting from September on the Interledger Community Call for our students to conduct live product demonstrations to the Interledger Community, highlighting their product innovation and technical progress. This will serve as a platform for students to engage with industry experts, exchange ideas, and receive valuable, constructive feedback to further refine and advance their projects.

Final Public Demo Day
The Public Demo Day is a capstone event that marks the culmination of the Inaugural Covenant University Next Gen program, where participating students will showcase their completed open payments projects and innovative solutions to a wider audience especially industry experts, peers and the public. We desire at least two persons from the ILF team for this great event.

Additional Comments

Relevant Links/Resources (optional)

https://1drv.ms/v/c/21d49bd80eaff14c/IQAYYxBNTe_zQLQBeOuTXSv3AUiMEhVndRC5VR9T4Jhw368?e=OSOqUj

Covenant University Partners ILF on the Next Gen Program

Jonathan Oluranti — Sun, 19 Apr 2026 10:23:45 +0000

The global financial system is on the brink of a major transformation, and the next wave of innovation is being nurtured right here in Nigeria. Covenant University has officially partnered with the Interledger Foundation (ILF) to launch the Interledger Next Gen program, an initiative designed to bring open payments education directly into the classroom.

For tech enthusiasts, budding developers, and future financial leaders, this is a massive leap forward. Here is everything you need to know about this exciting launch and what it means for the future of fintech in Africa.

The Problem: A Fragmented Financial World

If you have ever tried to send money across borders or between different mobile money providers, you know that the current global payment ecosystem is heavily fragmented. Consumers and merchants are forced to navigate a patchwork of cash, debit cards, mobile money, and digital wallets.

These systems rarely communicate with one another, creating "walled gardens" that trap capital, hike up transaction fees, and delay settlements. Money that could theoretically settle in seconds often takes days.

The Solution: Open Payments and the Interledger Protocol (ILP)

To solve this, the Interledger Foundation is advocating for an open, interoperable payment network powered by the Interledger Protocol (ILP). ILP allows different currencies and distinct financial systems to seamlessly connect, acting essentially as a universal translator for money, much like how the internet routes data.

To make open payments the global standard, the ILF realized they needed to invest in the architects of tomorrow.

What is Happening at Covenant University?

As one of the leading tech and innovation campuses in Africa, Covenant University is at the forefront of this initiative. Through this grant and support from the Interledger Foundation, the university is integrating open payments directly into its curriculum to equip students with highly sought after skills.

Dedicated open Payments Courses: At Covenant University, we are launching two new courses entirely focused on financial inclusion, open payments and the Interledger Protocol.
Hands on Innovation: Theory is backed by practice. Students will gain practical experience building real world, interoperable fintech solutions that address actual market gaps.
Hackathons & Innovation Labs: The campus will host dedicated innovation labs, competitive hackathons and Demo Days where students can test their ideas, build prototypes, and solve pressing financial access challenges.
Incubator Program: The Incubator program will serve as a launchpad designed to help covenant university students transition their hackathon projects and coursework into market ready fintech startups
Micro Grants: We will ignite a Student Microgrant Program to provide direct financial support for student driven ILP projects.
Open Payments Innovation Week: The OPIW will be a hands on week dedicated entirely to problem solving, building and prototyping. Students will collaborate in teams to build payment solutions utilizing the Interledger Protocol and Rafiki.
Open Payments Conference: Covenant University will host the first Open Payments conference in the country, bringing together thought leaders across the industry, students and university faculty. Ps: More details about this will be shared publicly in subsequent months.

Key Updates

We've curated a robust curriculum comprising of 2 courses with 4 modules and 60 learning Units.

The Interledger Community 🌱: Covenant University