FirstBank, one of Nigeria’s tier-1 lenders, has announced plans to transition to a new cloud-based procurement and financial platform as part of its ongoing efforts to enhance operational efficiency and service delivery.
In a notice sent to its vendors and suppliers, which Nairametrics has seen, the Bank disclosed that the transition scheduled to begin on Saturday, October 26, may result in temporary service disruptions. As a precaution, the vendors were informed ahead.
Nairametrics understands that the transition to a new platform does not affect customer deposits or customer transactions.
What FirstBank is saying
In the notice sent on Wednesday, the Bank wrote:
“As part of the Bank’s continuous investments to improve operational efficiencies and service experience, we will be transitioning from our current Procurement and Financial Platforms to a new Cloud-based Platform that provides additional capabilities and benefits.
“During the cut-over period, certain activities and transactions will need to be suspended to aid housecleaning and safe migration of transactions with minimal disruption.
“The cut-over period will be from Saturday, October 26, 2024, to Sunday, November 3, 2024, while the new Cloud-based solution will be live on Monday, November 4, 2024, and normal activities will resume.”
Services to be impacted
The Bank noted that during the transition period, vendors would be unable to submit invoices on the bank’s current Electronic Business Suite (EBS).
- It said payments during this period will only be processed if invoices are submitted for received POs by Friday, October 25, 2024.
- While noting that its current supplier portal will no longer be in use effective November 4, the Bank said subsequent communication on the details of the new Supplier Portal and a job card will be provided before Go-live on Monday, November 4, 2024.
“Kindly note to take proactive steps as indicated above to avoid business disruption during this critical period. Further details regarding onboarding, training and user guides will be communicated before the end of the week,” the Bank stated.
Note: This story has been updated to clarify that the transition does not affect customers.