Index to Nigerian Newspapers

Several commercial financial institutions are preparing to follow Guaranty Trust Company and Zenith Bank in upgrading their core banking systems to improve cybersecurity and operational efficiency, even though these ongoing migrations are currently causing temporary transaction disruptions and customer complaints regarding fund transfers and automated teller machine usage. Industry sources indicate that these critical upgrades were prompted by surging cybercrime losses totaling billions of naira and reinforced by the Central Bank of Nigeria recapitalization directives requiring banks with national licenses to meet higher capital thresholds, ensuring that institutions harden their infrastructure to protect depositors' accounts from sophisticated hacking threats.