FirstBank has confirmed temporary disruptions affecting its mobile and USSD services, hindering transaction completions for millions of customers.
Causes and Consequences of Outages
In its notice, the bank reported problems with transactions on FirstMobile, FirstOnline, and the USSD platform *894#. 'Please be informed that we are currently experiencing some downtime affecting transactions to other banks...' the statement read. The bank apologized for the inconvenience and assured that technical teams are working to restore full functionality.
Current Situation in Nigeria's Banking System
The disruption comes two months after the bank introduced biometric authentication technology on its mobile application. This feature was aimed at enhancing security and streamlining onboarding. However, recurring outages in service underscore system resilience issues within Nigeria's banking sector, where other banks have also faced similar outages.
Impact on Customers and Businesses
For millions of customers relying on FirstBank's digital platforms, the disruption halted essential financial activities such as fund transfers and bill payments. The incident also affected numerous small businesses reliant on instant transfers. Despite the bank's pledge for a swift restoration, this incident highlights the significance of service reliability in ensuring financial inclusion.
The ongoing service disruptions at FirstBank reflect broader challenges in Nigeria's banking system, where the importance of digital infrastructure and protective measures is growing.
