One of Nigeria’s leading financial institutions, First Bank Plc, has announced that it will shut down its operations across the country from Thursday to Monday so it can upgrade its core banking application system.
The private Punch newspaper on Wednesday quoted a statement from the bank to have said the measure was to ensure easier and faster customer services.
“All transactions that will impact on the banking platform e.g. settlements, inter bank (RTGS, NEFT, FIP) inflows, will not be available,” the bank explained in the statement.
The decision to shut down its operations would affect the bank’s over 700 branches nationwide.
Apart from that, Point of Sale transactions and transaction alerts by Short Message Service will not be possible during the period.