Nigeria Chess Tournament Gives 700 Kids N10M Prize Pool

Seven hundred young minds across Lagos will gather this May to prove that chess is more than just a game. It's a launchpad for Africa's future leaders.

FirstBank announced its sponsorship of ChessMasters 2026, Africa's biggest school chess tournament, at a press conference in Lagos on March 16. The competition targets children aged 6 to 11 from 150 schools across the city.

Organized by Eko Hotels and KEY Academy, the tournament offers a N10 million prize pool to young competitors. But the real prize goes far beyond money.

"We recognize the potential of chess to help school-age children challenge themselves, think critically, and compete at the highest level," said Olayinka Ijabiyi, Acting Group Head of Marketing at FirstBank. The bank has supported Nigerian sports for over a century, including 105 years sponsoring the Georgian Cup.

The tournament will take place on May 2, 2026, at Eko Hotels and Suites in Lagos. Every move on the chessboard teaches patience, strategy, and resource management.

Prince Adeyinka Adewole from the Nigeria Chess Federation highlighted another powerful benefit. "Chess also improves concentration and has been particularly beneficial for children with autism," he said at the press conference.

Tournament co-founders Caline Chagoury Moudabar and Damilola Okonkwo celebrate the expanded partnership. "We are opening the doors of participation to more children and more schools in this year's edition," they announced.

The Ripple Effect

This tournament does more than crown chess champions. It's building a generation of Nigerian children who can analyze problems, manage limited resources, and think several steps ahead.

FirstBank's support through its First@Sports initiative connects the tournament to broader goals of education and empowerment. The bank sees chess as a tool that levels the playing field, giving every child regardless of background the chance to develop world-class thinking skills.

The competition also brings schools together on a national stage, creating networks and friendships that extend far beyond the tournament day. When children learn to see their opponent as a worthy challenger rather than an enemy, they're learning lessons that transform communities.

Seven hundred children will move chess pieces across boards this May, but they're really moving Nigeria forward.