Nigerian bank customers are bracing for potential service disruptions in the coming weeks and months as financial institutions undergo critical system upgrades.
These upgrades aim to enhance operational efficiency and improve customer experience.
Several banks have already initiated these migrations, leading to temporary service outages and customer inconvenience. While some sources attribute these upgrades to a directive from the Central Bank of Nigeria (CBN), others suggest that banks are proactively seeking to strengthen their technology infrastructure.
Sterling Bank, a tier-2 lender, was among the first to experience significant disruptions in September due to the migration from T24 to SEABaaS, a locally developed core banking application. Similarly, GTBank and Zenith Bank have recently undergone system migrations, resulting in service outages for their customers.
Zenith Bank, for example, is transitioning from Phoenix to Oracle’s Flexcube, causing widespread customer frustration. Despite the bank’s claims of progress and restored services, many customers continue to face difficulties accessing their accounts.
As more banks embark on these system upgrades, it is essential for customers to be aware of potential disruptions and to remain patient during the transition period.