First Bank Announces Date for System Migration, Advises Customers on Service Disruption
- First Bank has scheduled a system migration that will temporarily disrupt certain banking services
- The financial institution said it is migrating a new cloud-based procurement and financial platform
- Since September, at least four major banks in the country, including Zenith Bank and Guaranty Trust Bank, have switched their core banking applications
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
First Bank, one of Nigeria's leading financial institutions, has announced a scheduled system migration that will temporarily disrupt certain banking services.
In an email targeted at vendors, First Bank said it will transition to a new cloud-based procurement and financial platform from Saturday, October 26.
Source: Getty Images
The bank said the migration will be fully operational from Monday, November 4, 2024, Punch reports.
The bank wrote:
"As part of the Bank’s ongoing efforts to enhance operational efficiency and service delivery, we are transitioning from our current Procurement and Financial Platforms to a new Cloud-based system that offers expanded features and benefits.
"During the transition period, certain activities and transactions will be temporarily paused to ensure a smooth and secure migration with minimal disruption.
"The transition will take place from Saturday, October 26, 2024, to Sunday, November 3, 2024, and the new Cloud-based platform will be fully operational starting Monday, November 4, 2024, when normal operations will resume."
The lender also informed customers that during the transition period, vendors will be unable to submit invoices through its current Electronic Business Suite.
Payments will only be processed for invoices submitted for received purchase orders by Friday, October 25, 2024.
Furthermore, FirstBank announced that its existing supplier portal will be discontinued as of November 4, 2024.
The bank will share additional details about the new Supplier Portal, including a job card, ahead of the system's go-live on Monday, November 4, 2024.
The bank explained.
“Kindly note to take proactive steps as outlined above to avoid any business disruption during this critical period. Additional information regarding onboarding, training, and user guides will be provided by the end of the week."
Nigerian bank apologises to customers
Earlier, Legit.ng reported that Unity Bank had resolved the network issues that had affected its customers.
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria released a public statement on the network issues.
The bank apologised for the inconvenience and announced that regular services had been restored.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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