Business
First Bank Launches Cloud Platform From October 26 With Service Disruptions
First Bank has revealed its plans to adopt a new cloud-based system and financial platform.
This initiative is part of the bank’s commitment to enhance operational efficiency and improve service delivery to its customers.
The transition is set to commence on Saturday, October 26, and will lead to some temporary service disruptions.
First Bank, which serves over 42 million customers, communicated this change in a notice issued on Wednesday.
In the notice, the bank emphasized its continuous investment in improving operational efficiency and customer experience.
The shift from the current financial systems to a more advanced cloud-based platform aims to offer greater capabilities and benefits.
The bank has outlined the timeline for this transition.
The cut-over period will run from October 26 to November 3, during this period, specific activities and transactions will be temporarily halted.
This pause is necessary to facilitate a smooth and safe migration of transactions while minimizing disruption for customers and stakeholders.
On November 4, 2024, the new cloud-based solution is expected to go live, at which normal banking activities will resume.
During this transition, vendors will not be able to submit invoices through the existing Electronic Business Suite.
Also, First Bank has specified that payments will only be processed for invoices related to received purchase orders submitted by Friday, October 25, 2024.
Additionally, First Bank has indicated that its current supplier portal will cease operations starting November 4.
In certainty, the bank plans to offer further details about the new Supplier Portal and the associated job card before the system’s live date.
First Bank urges all vendors and partners to take proactive measures as outlined in their communication to prevent any potential business disruptions during this significant transition period.
They will also provide more information on onboarding, training sessions, and user guides before the week concludes.
The Federal Government trains 500 women and youths in food production and agriculture. The programme was started to support food security.
The Federal Ministry of Agriculture and Food Security partnered with the National Horticultural Research Institute (NIHORT).
The women and youths were taught tomato, okra and Telfairia production techniques. The government believes this will help boost agriculture, improve food production and strengthen the economy in Ogun State.
According to reports, fuel stations are reducing their prices a bit. This has become a general thing around Nigeria after the spike due to the removal of subsidy.
The prices are dropping to ₦1,275 and ₦1,299, going lower than ₦1,300 compared to what it was before.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
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