Banks, others shut amid national hunger protest

• Published On: 01 August 2024 at 17:09

Banks and other financial institutions around the country will close on Thursday, August 1, 2024, to mark the start of the planned nationwide hunger strike.

Even while none of the banks expressly stated that they were closed, talks with numerous bank employees indicated that they had been told not to come to work on Thursday while the banks monitored the rally, according to The Punch.

A banker stated, "You witnessed what happened during earlier riots; banks were targeted. We don't want to repeat a similar event, so we've been instructed to observe the issue first, and then decide where to go from there."

When asked if he was going to work tomorrow, another banker in Lagos simply responded, "No."

Leadway Pension, a pension fund administrator, stated in an email to customers on Wednesday titled 'Business Continuity Amid Planned Protest' that "Due to the planned nationwide protest starting August 1, 2024, please be informed that all our offices will be closed on Thursday, August 1, 2024, and Friday, August 2, 2024, at the first instance as we monitor the situation."

The PFA asked clients to conduct transactions using its digital platforms.

Meristem Securities Limited, an asset management firm, also sent a closure warning to its customers on Wednesday.

"Dear esteemed client. Due to tomorrow's statewide demonstration, all of our offices in Lagos, Port Harcourt, and Abuja will be closed on Thursday, June 1, 2024. We will actively watch the situation and provide updates as the protest progresses."

They encouraged clients to use their internet outlets.

Anthony Abakpa, President of the National Union of Banks, Insurance, and Financial Institutions Employees, commented, "Banks will closely observe the National planned protest to see how it unfolds. The regulatory body has not given formal permission to close any bank operations during the protest.

"Banks cannot close without the express authority of the Central Bank of Nigeria. We will keep a careful eye on things, and we have warned our members to be especially cautious and aware in order to stay safe throughout and after.