First Bank of Nigeria has scheduled a system migration to a new cloud-based procurement and financial platform from Saturday, October 26, 2024, to Sunday, November 3, 2024.
This move is part of the bank’s efforts to improve operational efficiency and service delivery, as announced in a notice released on Wednesday.
The tier-one bank, which serves over 42 million customers, warned of possible service disruptions during the transition. However, normal operations are expected to resume on Monday, November 4, 2024.
The notice stated, “As part of the bank’s continuous investments to improve operational efficiencies and service experience, we will be transitioning from our current procurement and financial platforms to a new cloud-based platform that provides additional capabilities and benefits.”
During the migration, certain activities and transactions will be suspended to ensure a smooth transition.
Vendors will be unable to submit invoices on the current Electronic Business Suite, and payments will only be processed for invoices submitted before Friday, October 25, 2024.
The bank’s current supplier portal will also be decommissioned on November 4, with further communication on the new portal to follow.
The system upgrade comes as several other Nigerian banks, including Zenith Bank and Guaranty Trust Bank, have undertaken similar updates to their core banking platforms.
First Bank has assured its customers that further details regarding onboarding, training, and user guides for the new system will be communicated soon.
The migration is part of a larger trend in the Nigerian banking sector, where institutions are upgrading their infrastructure to stay competitive and meet growing customer expectations for efficient, technology-driven services.