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    MarketForces Africa » MarketNews » FirstBank Denies Shutting Down Transactions Platforms

    FirstBank Denies Shutting Down Transactions Platforms

    Julius AlagbeBy Julius AlagbeOctober 25, 2024Updated:October 25, 2024 MarketNews No Comments2 Mins Read
    FirstBank Denies Shutting Down Transactions Platforms
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    FirstBank Denies Shutting Down Transactions Platforms

    First Bank of Nigeria Ltd. has clarified that its scheduled transition to a new cloud-based procurement and financial platform will not affect banking operations. This is contained in a statement issued by Folake Ani-Mumuney, Group Head Marketing and Corporate Communications, FirstBank.

    ”There is no plan for systems upgrade for customers applications which are fully operational.

    ”The bank is not experiencing service disruptions and its banking systems, customer transactions and other channels, will not be affected by the planned enhanced supplier platform.

    “We wish to address a misleading report circulating in the media regarding a system upgrade at FirstBank.

    “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,” she said. The bank assured its customers of its commitment to seamless service delivery. #FirstBank Denies Shutting Down Transactions Platforms Naira Drops Market Wide, Exchange Rates Gap Now N102

    Banks Customers FBNH Firstbank
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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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