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The Central Bank of The Gambia has directed all banks to replace non-Gambian staff with qualified Gambians by 31 December 2026, prompting Nigeria's diaspora commission to call for a reversal.
✦ AI SUMMARY 30-second read
- The Central Bank of The Gambia issued a memo directing banks to phase out non-Gambian staff by 31 December 2026, citing violations of the Labour Act 2023.
- Nigeria's diaspora body, NiDCOM, says 57 Nigerian professionals across four Nigerian-origin banks in The Gambia could be displaced by the directive.
- The four affected banks collectively hold approximately 37.2 per cent of total Gambian banking industry deposits, valued at 35.3 billion Gambian dalasi.
Why it matters: The directive puts the livelihoods of 57 Nigerian banking professionals at risk and could strain Nigeria-Gambia economic ties.
This summary was generated by AI. Editors may review and update it.
The Central Bank of The Gambia has directed managing directors of all banks operating in the country to replace non-Gambian employees with suitably qualified Gambian nationals by 31 December 2026. The directive, issued in a memo signed by Paul Mendy, Second Deputy Governor, follows a meeting held in August and an industry study that found a relatively high number of non-Gambians employed in the banking sector beyond recognised expatriate positions.
The central bank stated that the situation violates the Labour Act 2023 and falls outside its guidelines on expatriate staff. Banks have been asked to adopt a phased approach that includes skills transfer and continuity-of-operations arrangements as the transition proceeds.
In response, the Nigerians in Diaspora Commission (NiDCOM) warned that the directive could displace 57 Nigerian professionals employed across four Nigerian-origin banks in The Gambia, and called on the central bank to reverse the order.
What was announced
The Central Bank of The Gambia's memo directed all banks to ensure full and strict compliance with its guidelines and with Gambian law. It specified that the transition to Gambian nationals must be completed no later than 31 December 2026, with appropriate provisions for skills transfer and operational continuity.
NiDCOM, in a statement issued in Abuja, said the 57 Nigerian professionals reportedly hold valid residency and work permits. The commission's Chairman and Chief Executive, Hon. Abike Dabiri-Erewa, described the development as deeply worrisome.
Economic stakes
NiDCOM drew attention to the significant economic footprint of the four Nigerian-origin banks in The Gambia. Collectively, they account for approximately 37.2 per cent of total banking industry deposits, valued at 35.3 billion Gambian dalasi, and 32.6 per cent of loans, worth 7.67 billion dalasi.
The four institutions also control 37 per cent of the industry's total assets, valued at 44.78 billion dalasi, and account for about 34.5 per cent of investments in Central Bank bonds. NiDCOM further noted that these banks contribute 90 per cent of the funding supporting the National Water and Electricity Company (NAWEC), underlining their importance to the Gambian economy.
What NiDCOM is asking for
NiDCOM acknowledged The Gambia's right to promote local employment but argued that such policies must respect existing employment arrangements, valid work authorisations, and the principles of African solidarity and regional integration. The commission cautioned that a blanket replacement policy could undermine African professional mobility at a time when continental economic cooperation is being deepened.
The commission urged the Central Bank of The Gambia to reconsider and reverse the directive and called for consultations involving the Nigerian High Commission in Banjul, the affected banks, and other stakeholders. It also appealed to Gambian authorities to uphold the spirit of the ECOWAS integration framework and the longstanding relationship between the two countries.
What happens next
NiDCOM has called for constructive diplomatic engagement to resolve the dispute without jeopardising the livelihoods of the affected Nigerian professionals or the broader bilateral economic relationship. The deadline set by the Central Bank of The Gambia remains 31 December 2026.
Elets will update this story as developments unfold.
