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Nigerian banks are set to experience service interruptions as they upgrade their core banking systems for improved security and cost-efficiency. Experts urge better communication with customers to mitigate disruptions during this transition, which is compounded by rising operational costs and increasing cyberattack threats.

Nigerian bank customers may soon face service interruptions as financial institutions upgrade their core banking systems to enhance security and reduce costs. Many banks are accelerating this migration, leading to anticipated transaction delays and outages in the coming weeks.

Dr. Uju Ogubunka, President of the Bank Customers Association of Nigeria (BCAN), expressed frustration over the lack of communication from banks regarding these changes. In an interview, he highlighted that while the upgrades aim to improve services, the simultaneous nature of these transitions is causing significant disruptions. Many customers were left unprepared due to insufficient notice from their banks.

Dr. Ogubunka stressed the need for better communication, especially for those less familiar with digital banking. He suggested that banks should provide training and clear explanations about the changes to help customers adjust.

An anonymous banking insider confirmed that further disruptions are likely as more banks migrate to new systems. Rising operational costs and security concerns have driven this shift, as banks seek cost-effective solutions amid the naira's decline. Recent migrations have already caused service issues, with Sterling Bank, GTBank, and Zenith Bank experiencing outages during their transitions.

Experts, including Dr. Ogubunka, advocate for a more strategic, customer-oriented approach to these upgrades to minimize disruption and enhance customer experience. They urge banks to prioritize communication and education to ensure smoother transitions moving forward.