- Access Bank announced that it would embark on a five-hour system maintenance
- The Bank stated that the maintenance operations would last for five hours between Saturday and Sunday
- It said that during the period, it would suspend transactions on its channels
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One of Nigeria’s top-tier banks, Access Bank, has announced a system shutdown due to scheduled maintenance.
In a message to its customers, the Bank said all its banking channels, including electronic transactions, will be unavailable during the period.
Access Bank apologizes for a service disruption
The message reads:
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“In our continuous effort to provide optimal functionality of our system to serve you better, we will be conducting a scheduled from 11:00 pm Saturday, June 24th, 2023, and 4:00 am Sunday, 25th (WAT).
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"During the affected period, there will be temporary service disruption on (sic) all Bank’s applications and Channels.”
The bank channels would be restored and back to normal upon completing the routine maintenance.
Routine systems maintenance is standard practice with financial institutions in Nigeria, which deploy massive tech platforms seeking to provide flawless and hitch-free service to their customers.
Access Bank registers most substantial growth in 10 years
The Bank, which recorded the most significant growth revenue of N1.38 trillion, became the first Bank in Nigeria to cross the N1 trillion mark in gross earnings.
The Bank’s record is followed by its first profit drop in five years, with profit after tax down by 5% to N152 billion, reflecting a significant loss of profit margin from 16.4% in 2021 to 9%, the lowest for the Bank in over a decade, according to TheCable.
Its audited financial report for the year ended December 2022 shows that the increase in gross earnings represents as much as N416 billion added to the enormous revenue basket of Access Holdings.
Access Bank, First Bank, 7 others buy $29.5 million from CBN at N765 to a dollar at FX auction
Legit.ng earlier reported that the Central Bank of Nigeria (CBN) supplied about $29.5 million at an FX auction on Thursday, June 21, 2023, as nine banks bid N765 and N755 at the I&E window.
But the naira depreciated by 0.25% on Thursday, June 22, 2023, at the Investors and Exporters window as the dollar was quoted at N765.13 against the dollar as against N763.17 quoted on Wednesday, June 21, 2023, according to data from the FMDQ.
BusinessDay reports that traders attributed the naira depreciation to increased demand for the dollar from persons who want to travel for education, tourism, and business.