First Bank Shuts Operations Thursday, Reopens Monday

Customers of First Bank Limited may find it difficult to carry out some banking transactions from Thursday to Monday due to the decision to shut down the bank's branches nationwide during the period.

The shutdown, according to the bank, 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.

Our correspondent gathered that the decision to shut down operations in order to facilitate the migration to Finacle 10 would affect the bank's over 700 branches nationwide.

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

First Bank said in an explanatory note, "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, while its mobile money services will be available throughout the migration period.

The bank had notified its customers through SMS and email of the development and apologised for inconveniences that they might suffer as a result of the platform upgrade.

The Group Managing Director, First Bank, Mr. Bisi Onasanya, said in an open letter to the customers, "I write to thank you for your continuous patronage and inform you of our plan to upgrade our core banking application as part of the ongoing transformation of the bank.

"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.

"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 days, while the upgrade is ongoing."

Onasanya said only intra-bank transactions would be available on the alternative channels while the upgrade was going on, adding that the clearing of customers' might also be slightly delayed but that all investments due on any transaction within the period would only be terminated when all services were restored without affecting the value dates or the value of accrued interests on such investments.

However, the decision is causing anxiety among the customers of the bank, who complained that the planned shutdown would further compound the problems they had been coping with lately in accessing the institution's services.

For instance, customers have been complaining of not being able to draw cash from the bank's Automated Teller Machines for sometime now, while money transfers to other banks from First Bank branches have been difficult in the last two weeks.

When contacted, the spokesman of the Central Bank of Nigeria, Mr. Ugo Okoroafor, said he was not aware of the plans by the bank to close its branches and urged our correspondent to call back to enable him make enquiries.

However, subsequent calls and SMS sent to his mobile telephone line were unanswered as of 9.30pm when this report was put together

http://www.punchng.com/news/first-bank-shuts-operations-thursday-reopens-monday/

It is going to be a very long weekend for its customers. Is this how it is done elsewhere, shutting down for so long? Isnt there a way to go round this and maybe, limit it to just saturday and sunday?

ok no comment but 2nd to comment

Gweud step

Change remains the only constant thing in nature. Thumbs up my Bank
But I hope this will improve the efficiency of the network.

please not now wen we r expecting allawi

It is always nice to have
Two bank accounts
Two sim cards
Two cars
Two jobs
and
One wife and another girlfriend

Good thing i made my withdrawal on monday, na wetin i for tell my landlady dis weekend?

like first bank like mtn...bunch of disappointment

OMG.....wont i be able to make any transaction maybe ATM or if am paying in....
even if dey dont resume work 4 a month i doubt if dere services would ever improved
the Bank iz bleeped...

My candid advise to all FBN customers in this tread is to make all withdrawls today, thurday morning may be too late!

A lonnnnnnnnnnnnnng public holidays for 1st bank customers.

ITbomb: It is always nice to have
Two bank accounts
Two sim cards
Two cars
Two jobs
and
One wife and another girlfriend

and the wife have another boyfriend while the girl friend have a husband

edit: on a normal day FirstBank queues are looong, I wonder what will happen these days they'll be off

This guys have'nt notified me.......pray their bad network issue be fixed!!!! Truely d 1st

ITbomb: It is always nice to have
Two bank accounts
Two sim cards
Two cars
Two jobs
and
One wife and another girlfriend

i agree wt all except the 'wife n another girlfriend'.

#.. Hate adulterers

lacasa:


i agree wt all except the 'wife n another girlfriend'.

#.. Hate adulterers

EVERY THING NA DOUBLE DOUBLE

what should a young graduate engage in before service or job. fellow nairalanders this question keep bordering me as a young graduate on what i should engage in before my service which will come up sometimes in november, i dont want to be at home without doing anything tangible. i want to be productive for my self. at least something that will be generating money to me. becouse as the saying goes an idle man is a devil workshop. please i need your sincere advice. thanks

Watch NOW! (From FirstBank Facebook Profile)

The Planned Upgrade Of Our Banking Platform Will Affect Our Services In The Following Ways...


https://www.youtube.com/watch?v=vX5tsA18C_I

Na wao! 5 days? That's too long na. Why not just weekend (Saturday & Sunday). I remember when JP Morgan (one of the biggest banks in the world) acquired Bear Stearns in 2008 , integration and upgrade took just two days (Saturday & Sunday).
I'm expecting some good cash tomorrow, now not even sure if i can get that money till like Wednesday next week.
Msctweeew

StanbicIBTC bank is the only bank in Nigeria using the Finacle 10 version since 2011 and they switched on a weekend, FBN is seconding. Good initiatives

yuzedo: op bro hope my [size=15pt]N277,591,386,490,666.000[/size] is still save in my acaant?!

No its not

make i go run collect my mastercard

yuzedo: op bro hope my [size=15pt]N277,591,386,490,666.000[/size] is still save in my acaant?!

put this in words..

ITbomb: It is always nice to have
Two bank accounts
Two sim cards
Two cars
Two jobs
and
One wife and another girlfriend

600million likes. but you didn't include one man two ballot papers.

@topic. I'm not bothered as long as it's for the benefit of her customers.

My money oooo, ok with faith i go leave am there but make una come bak there

When I read this, I felt that I've heard this news before. Did a quick search and found this:

http://www.technologybanker.com/it-ops/first-bank-of-nigeria-switches-to-finacle-10

Apprently, they switched to Finacle 10 since July last year. Am I missing something here?

Also, why should an upgrade take 5 days? I'm even surprised the operations exectives/CEO/Board approved it. I can't even think of how much the bank would loose if their service was down by 3 hours, now 5 days? What about those people outside the country, travelling, or that depend on daily cash flow for their businesses? There should be a better solution!

Gboliwe: It is going to be a very long weekend for its customers. Is this how it is done elsewhere, shutting down for so long? Isnt there a way to go round this and maybe, limit it to just saturday and sunday?

First Bank is still learning. They should come and learn from Zenith Bank how to migrate and upgrade between softwares without shutting down operations. They need SYSTEMATIC CAPATIOUS INTEGRATION and SYNCHRONIZATION

I am not bothered jare. I have my
personal bank called "Kolo" na only
one branch e get and na under my
bed be the location.

Good move