Yes, you can temporarily turn off the giving portal.
You will need the Contributions Settings permission to perform this action.
Navigate to Contributions > Settings in the left-hand navigation menu and then click on the Merchants tab. Select the desired Account Listing by clicking on the "edit" button.
A pop up will appear. Under the General section, you can select No beside Giving Portal?, scroll down, and hit Save.
The giving portal will no longer appear on the dashboard.