Sagamu Commercial Banks Set To Resume Operations In July 2023

By: Ogunleye Oluwapelumi

Following a violent protest that occurred in Sagamu local government on February 20th, 2023, commercial banks in Sagamu have ceased operation, citing safety concerns. The protest led to the destruction of many properties, including banks, the IBEDC office, and Sagamu local government secretariat. Since then, banks have refused to operate in Sagamu, leaving residents without access to banking services.

However, the Akarigbo and Paramount Ruler of Remoland, Oba Dr Babatunde Adewale Ajayi, took action to find a solution to the situation. He convened meetings with all banks and branch managers in his palace at the conference hall, Ita Oba, Sagamu, to plead with them to ameliorate the current situation in Sagamu metropolis. The Banker’s forum, led by Mrs Adebayo, met with Akarigbo and expressed their concerns.

After the meetings with the Akarigbo, the commercial banks in Sagamu, including Polaris, Uba, First Bank, Gtbank, Stanbic, Zenith, Union Bank, and others, have agreed to resume operations in July 2023. The banks had previously ceased operation due to safety concerns after the violent protest that occurred in February. However, with the intervention of the Akarigbo, the banks have agreed to resume services in Sagamu.

The Akarigbo expressed his displeasure over the violent protest and sent his condolence messages to all the affected banks within Sagamu local government. He is pleased that the banks have agreed to resume operations and has promised to continue to work with them to ensure the safety of their staff and customers. The resumption of banking services in Sagamu is a welcome development, and residents are looking forward to accessing banking services once again.