The Central Bank of The Gambia (CBG) has directed commercial banks operating in the country to replace existing non-Gambian employees with suitably qualified Gambian nationals by December 31, 2026.<\/p>\n
The directive was contained in a circular dated September 16, 2026, and signed by the bank\u2019s Second Deputy Governor, Dr. Paul J. Mendy.<\/p>\n
The policy requires banks to implement a phased replacement process while making arrangements for skills transfer and continuity of operations.<\/p>\n
The development could affect Nigerian professionals working in The Gambia\u2019s banking industry, including employees of Nigerian-origin lenders such as Access Bank, FirstBank, Guaranty Trust Bank and Zenith Bank.<\/p>\n
According to the apex bank, the decision followed a meeting with managing directors of banks operating in the country on August 27, 2026.<\/p>\n
The regulator said an industry study conducted by the bank found that a relatively high number of non-Gambian nationals were employed across the banking industry, in addition to staff recognised under existing expatriate arrangements.<\/p>\n
It said the practice contravened provisions of The Gambia\u2019s Labour Act 2023 and was inconsistent with Guideline 9, which governs the employment of expatriate staff in the banking industry.<\/p>\n
Consequently, the central bank directed all banks to begin a gradual replacement of affected foreign employees with suitably qualified Gambian nationals.<\/p>\n
In the circular, it stated:<\/p>\n
The regulator further instructed banks to complete the exercise within the stipulated timeframe, stressing the need for compliance with existing labour laws and its employment guidelines.<\/p>\n
The directive is expected to require banks to balance the replacement of affected foreign employees with the transfer of relevant skills to Gambian nationals and the continuity of banking operations.<\/p>\n
The directive could have implications for Nigerian banking professionals working in the country. The Nigerians in Diaspora Commission (NiDCOM) estimates that 57 Nigerian professionals working in four Nigerian-origin banks in The Gambia could be affected by the policy.<\/p>\n
The four institutions are Access Bank, FirstBank, Guaranty Trust Bank and Zenith Bank. Ecobank Gambia also operates in the country, although it is part of the pan-African Ecobank Group rather than a Nigerian-origin banking group.<\/p>\n
According to a list of licensed banks published on the Central Bank of The Gambia\u2019s website, some of the institutions and their managing directors include:<\/p>\n
Meanwhile, NiDCOM has expressed concern over the potential implications of the directive for Nigerian professionals working in the country.<\/p>\n
In a statement, the Commission\u2019s Chairman and Chief Executive Officer, Abike Dabiri-Erewa, described the development as \u201cdeeply worrisome.\u201d<\/em><\/p>\n While acknowledging The Gambia\u2019s right to promote local employment and develop its workforce, she argued that the policy should be implemented in a manner that protects existing employment arrangements and legitimate work authorisations.<\/p>\n She said:<\/p>\n The directive comes as Nigerian banks continue to expand their operations across African markets, with their international subsidiaries contributing significantly to group earnings.<\/p>\n\n
Nigerian banks deepen expansion across African markets<\/strong><\/h4>\n