FirstBank not shutting down to customers, Clarifies Supplier Platform Transition
Lagos – First Bank of Nigeria Ltd. has assured customers that its planned shift to a new, cloud-based procurement and financial platform is exclusively for its suppliers and will not impact regular banking operations.
In a statement issued by Folake Ani-Mumuney, Group Hkdead of Marketing and Corporate Communications, FirstBank clarified that the move to the new supplier platform, designed to enhance vendor management, does not involve any system upgrade affecting customer-facing applications or transactions.
"We wish to address a misleading report circulating in the media regarding a system upgrade at FirstBank," Ani-Mumuney stated. "The message, which was incorrectly interpreted, was intended solely for our vendors and detailed a transition from our current I-Supplier platform to a new cloud-based platform aimed at improving supplier interactions."
The bank emphasised that customer applications are fully operational, and there are no disruptions to banking services, including transactions, channels, or other customer-facing systems.
"We are not experiencing any service disruptions, and all of our customer applications remain functional," Ani-Mumuney assured.
First Bank reaffirmed its commitment to delivering uninterrupted and seamless service to its customers, adding that this supplier platform enhancement will exclusively benefit its vendor interactions, leaving day-to-day banking operations unaffected.
The bank urges customers to disregard any misleading information suggesting an interruption in services and continues to prioritize their experience with FirstBank's full range of services.
Investors in the Nigerian Exchange Ltd. (NGX) on Tuesday experienced a setback as sell-offs in MTN Nigeria and major banking stocks resulted in a loss of 0.12 per cent, equating to N70 billion in market capitalization.
A fresh round of squabbles is currently rocking the board of First Bank of Nigeria, a development shareholders fear poses major threat to the bid by the first generation financial institution to strengthen its capital base in line with the recent directive of the Central Bank of Nigeria to all banks operating in the country to recapitalize.
The Federation Accounts Allocation Committee (FAAC) has allocated a total of N1.203 trillion in revenue for August, sharing the funds among the Federal Government, state governments, and Local Government Councils (LGCs).
Former President Olusegun Obasanjo has urged the Federal government to reduce agriculture interest loans to single digits to help transform agribusiness.