- FirstBank has clarified that notice of system upgrade is for vendors and not customers
- Nigerians had reacted to the earlier announcement, with some considering migrating to other banks and fintechs
- System upgrades have been the trend among Nigerian banks in recent weeks
Following reports in the media on Thursday, October 24, that FirstBank fixed October 26 for a scheduled system upgrade, the lender has clarified that the notice was for its vendors and not customers.
In a statement on Friday, the bank stated that the notice about transitioning to a new cloud-based platform was intended for vendors only but was misinterpreted and incorrectly reported.
The bank said the message concerned transitioning from the current I-Supplier Platform to a new Cloud-based Supplier Platform to enhance vendor capabilities and benefits.
The statement read, “The message, which was incorrectly interpreted and reported was sent to, and intended for our vendors only and focused on transitioning from our current I-Supplier Platform (our automated platform that connects us to suppliers) to a new Cloud-based Supplier Platform (worldclass platform for managing suppliers), to enable additional capabilities and benefits for our vendors.
“Please be informed that no system upgrade is currently underway and all our customer applications are fully operational.
“We are not experiencing disruption to our services and our banking systems, customer transactions, channels, etc, will not be affected by the enhanced supplier platform.”
Nigerians had reacted to earlier reports of scheduled system upgrade
The earlier reports that FirstBank announced a planned system upgrade caused a buzz on social media, especially X and Facebook, with many customers saying the upgrade would affect transactions and other banking operations.
Others have also expressed the intention to migrate to other banks and fintechs to avoid the potential disruption of the upgrade to their transaction.
@remistargirlsax tweeted, “If you know what’s good for you, move your money out of FirstBank! If you are banking with only FirstBank and GTB, it’s sad to announce that Your Own Don Meet You.
“They want to start system migration tomorrow. GTB have (sic) have been doing theirs for two weeks and believe me when I say it’s hell.”
@Marshal007_ said, “LMAO 🤣😂😂 I hear say FirstBank wan “shutdown” So, na play I dey before. Me wey my app never open in like a week 😂😅😅😅.”
@chandni_lish wrote, “I don’t want to hear anyone complaining about first bank next week. Get your money out.”
On Facebook, some Nigerians advised the bank's customers to seek alternatives.
Onadairo Festus Sunday wrote, “First Bank announces 10 days temporary shutdown for system upgrade begin from 26th October till 4th November 2024. If you are using this bank take action now. Ask from GTB customers you will understand.”
Akaigwe Chukwuezugo said, “Zenith and GTB are yet to recover from their system upgrade exercise till date. If you’re using First Bank, just move your money to Opay to avoid stories that touch the heart 😏.”
Amaka Lucy also said, “If your money is in first bank, transfer some to your other banks now. They just announced 10days temporary shutdown for system upgrade starting from 26th of October to 4th of November. Some people will still come and cry that their app is not working 😂”
System upgrades have been the trend among banks
In recent weeks, some banks have announced system upgrades on core banking operations, which left many customers stranded and disenchanted as they struggled to carry out essential banking operations.
The situation has become a recurring feature among bank customers and generates social media buzz each time as customers battle with network failures and transaction failures, among others.
System upgrade: Stakeholders say Nigerian banks need one year to migrate customers’ data
Meanwhile, TheRadar reported that following the recent system upgrade of core banking applications, stakeholders in the technology sector have said Nigerian banks will require up to one year to successfully migrate customers’ data.
They said the migration process involves transferring a large bulk of customers’ data from outdated systems to new platforms, thus requiring meticulous planning and execution.
