Bank Closures in Port Harcourt Amid “End Bad Governance” Protest

Port Harcourt, Nigeria – Due to the nationwide protest against economic hardship, many banks and financial institutions in Port Harcourt and other cities decided to close their doors to monitor the situation. The protest, known as the “End Bad Governance” protest, began on August 1st, 2024, with people taking to the streets to express their grievances over poor living conditions.

According to a tweet by @Neusroom on August 5th, despite President Bola Tinubu’s broadcast on Sunday asking protesters to suspend any further protests, the Rumuokoro Market, a popular daily market in Port Harcourt, has been closed down as demonstrations resume in Rivers State.

The protest has caused major disruptions in the city, with shops and markets remaining shut and roads unusually deserted. The usually bustling Ahmadu Bello Way located in the Central Business District of the Kaduna State capital is empty without the usual vehicular and human traffic.

In response to the protest, banks and other financial institutions in the country announced that they would be closed on Thursday, August 1st, 2024. A Pension Fund Administrator, Leadway Pensure, in a mail to their customers on Wednesday, stated that all their offices would be closed on August 1st and 2nd as they monitor the situation.

The President of the National Union of Banks, Insurance, and Financial Institutions Employees, Anthony Abakpa, said that banks would monitor the national planned protest closely and see how it plays out. The regulatory body has not given express approval to close any of the bank operations amid the protest.

Despite the disruptions, the protest has been largely peaceful, with no reports of violence or destruction of properties within the state. The protesters are demanding an end to economic hardship and calling on the government to address the growing economic challenges in the country.

As the protest continues, it remains to be seen how the government will respond to the demands of the protesters and whether the bank closures will continue in the coming days.