By Milcah Tanimu
Nigerian banks are set to cause more service disruptions in the coming weeks as they upgrade core banking applications to improve efficiency and customer experience. Several banks, including Sterling Bank, GTBank, and Zenith Bank, have already begun migration, causing issues such as transaction failures and restricted access.
Sources suggest these disruptions will continue as more banks switch systems. While some believe the Central Bank of Nigeria (CBN) directed these changes, others say banks are upgrading independently to enhance services.
Service Outages and Customer Impact
Sterling Bank recently migrated to SEABaaS, and GTBank moved to Finacle, both causing temporary service outages. Zenith Bank’s switch to Oracle’s Flexcube led to ongoing customer access issues. More banks are expected to follow suit.
Migration Challenges
The transition process is complex, involving customer biodata and system integrations like ATMs and internet banking, which makes stabilization slow.
Reasons for Upgrades
Banks are upgrading for security, flexibility, and cost reduction. With growing cyber threats and the rise of e-transactions, stronger digital infrastructure is essential.
