Ondo Residents Urge First Bank to Reopen Iju-Itagbolu Branch After 7 Years

The prolonged absence of banking services in the Iju-Itagbolu axis has reached a breaking point, with local stakeholders describing the seven-year hiatus as a "death knell" for the local economy.

The First Bank branch, which was the only commercial banking facility serving several agrarian communities in the council area, was closed in 2019 following a series of security concerns and a surge in bank robberies across the state at the time.

Speaking on behalf of the residents over the weekend, community leaders and traders lamented that the closure has forced thousands of people to travel long distances to Akure, the state capital, for basic financial transactions.

Farmers and small-scale business owners noted that carrying large sums of cash on the highway to Akure has exposed them to the risk of highway robbery. They also highlighted the plight of elderly pensioners in the community, who are often forced to spend a significant portion of their meager stipends on transportation and endure long queues at overcrowded banks in the city.

“It has been a nightmare for us,” a local trader stated. “For seven years, we have had to rely on Point of Sale (POS) operators for everything, and their charges are eating deep into our small profits. When we need to do larger transactions, we must risk our lives and money on the road to Akure. We are begging First Bank to come back.”

The residents argued that the security situation in Ondo State has improved significantly since the branch was closed, citing the proactive measures taken by the state government and the efficiency of the **Ondo State Security Network Agency, popularly known as Amotekun**.

The community members maintained that with the presence of Amotekun and enhanced police patrols in the Akure North corridor, the bank can now operate safely. They assured the bank’s management of the community's readiness to cooperate with security agencies to provide a safe working environment.

The stakeholders also called on Governor Lucky Aiyedatiwa to intervene by engaging the bank’s leadership. They argued that the reopening of the branch is essential for the industrial and commercial growth of Akure North, which is a major gateway to the northern part of the country.

“A local government headquarters without a single functional bank is a major setback for development,” a youth leader added. “We are ready to provide any support needed, including additional local security, to ensure our people don't have to suffer another year without banking services.”

While First Bank has not issued a fresh official statement regarding the Iju-Itagbolu branch, industry sources suggest that commercial banks often conduct rigorous "threat assessments" before returning to locations previously hit by violence.

However, with the 2027 election cycle approaching, local political analysts observe that the restoration of essential services like banking will likely become a major talking point for residents seeking improved governance and infrastructure.