First Bank to temporarily Shut Down Operations From Thursday

Customers of First Bank Limited may find it difficult to carry out their banking transactions from Thursday to Monday, five days, due to the decision to temporarily shut down the bank’s branches nationwide.

    “This is a major project and on account of the technical requirements, we regret that there will be some disruptions to our services for about three [working] days, while the upgrade is ongoing.”

According to the bank, the shutdown is to enable it upgrade its core banking application. From Finacle 7 to Finacle 10, which will ensure easier and faster customer services and experience.

Apart from all the branches being shut, Point of Sale transactions and transaction alerts by SMS will not be possible during the period - Thursday to Monday. In addition, all card services, except Visa prepaid card, will not be available via Quick Teller and the Web.

First Bank said in a statement, “All transactions that will impact on the banking platform e.g. settlements, inter bank (RTGS, NEFT, FIP) inflows, will not be available.”

However, the bank said skeletal services would be available on its ATMs throughout the migration period until 5pm on Sunday, and would be restored at 6am on Monday.

Online banking services, according to the bank, will also be available until 5pm on Sunday and be restored at 6am on Monday. But its mobile money services will be available throughout the migration period.

Group Managing Director, First Bank, Mr. Bisi Onasanya, said “I am particularly excited at the prospect of this milestone as it represents the opportunity to significantly transform our service delivery to you in many respects, while also supporting our plans for the introduction of new and innovative products as we anticipate your every banking need."