BANJUL: The Central Bank of The Gambia has directed commercial banks operating in the country to begin replacing affected non-Gambian employees with suitably qualified Gambian nationals, setting December 31, 2026, as the deadline for compliance.
The directive affects banks operating in The Gambia, including subsidiaries of Nigerian financial institutions such as Access Bank, Guaranty Trust Bank, FirstBank, Ecobank and Zenith Bank.
The Central Bank of The Gambia (CBG) issued the directive in a circular dated September 16 and signed by its Second Deputy Governor, Dr Paul J. Mendy.
The circular followed discussions with managing directors of commercial banks and an industry-wide review of employment practices involving non-Gambian workers in the banking sector.
According to the regulator, the review identified a “relatively high number” of non-Gambian employees working in banks beyond personnel formally recognised under existing expatriate arrangements.
The central bank said banks must adopt a phased process for replacing affected foreign employees with qualified Gambian citizens while putting appropriate measures in place to ensure continuity of banking operations.
The directive also requires banks to facilitate the transfer of knowledge and professional skills from affected non-Gambian employees to Gambian workers.
The policy is linked to provisions of The Gambia’s Labour Act 2023 and regulatory guidelines governing expatriate employment in the banking sector.
Under the existing framework, employers granted expatriate quotas are expected to provide Gambian employees to understudy foreign personnel and facilitate the transfer of relevant skills and knowledge.
The regulations do not completely prohibit the employment of foreign nationals. Instead, expatriate employment is subject to regulatory approval, with emphasis placed on developing local capacity.
Employers found to have breached expatriate employment requirements may face financial penalties, with reports citing fines of at least 500,000 dalasis.
Several Nigerian-owned or Nigerian-linked banks operating in The Gambia are among the financial institutions affected by the directive.
These include Access Bank, GTBank, FirstBank, Ecobank and Zenith Bank.
The CBG, however, did not accuse any particular bank of violating the rules. Rather, the directive was issued to the banking industry as a whole following the regulator’s review of employment practices.
The banks affected are expected to comply with the localisation process while ensuring that operations are not disrupted.
The development highlights The Gambia’s efforts to increase opportunities for its citizens in the financial sector and strengthen the transfer of professional skills to local workers.
Banks have also been given time to make the necessary staffing adjustments before the December 31, 2026 deadline. Reports indicate that affected Nigerian banks have been contacted for their responses.
The directive does not amount to a blanket prohibition on foreign workers in The Gambia’s banking industry, but places greater emphasis on approved expatriate arrangements and the progressive localisation of positions that can be filled by qualified Gambian nationals.
