Gambia’s New Banking Policy Puts 57 Nigerian Jobs at Risk
The Nigerians in Diaspora Commission (NiDCOM) has expressed concern over a new employment directive in The Gambia that could lead to the loss of jobs for 57 Nigerian professionals working in the country's banking industry.
NiDCOM Chairman, Abike Dabiri-Erewa, raised the alarm following a directive by the Central Bank of The Gambia requiring commercial banks to replace certain foreign employees with qualified Gambian nationals.
The directive, issued on September 16, 2026, gives commercial banks until December 31 to replace non-Gambian employees who are not covered by officially approved expatriate employment quotas.
Four Nigerian-origin financial institutions operating in the country are among those affected. They include Access Bank, FirstBank, Guaranty Trust Bank and Zenith Bank.
Dabiri-Erewa explained that information available to the commission indicated that 57 Nigerians employed across the four banks could be affected by the policy. She noted that the professionals reportedly have valid residency and work permits and have contributed to the development of The Gambia's banking sector.
Although NiDCOM acknowledged The Gambia's right to prioritise employment opportunities for its citizens, the commission argued that implementing the policy should not undermine existing employment agreements or disregard the legal authorisations held by foreign workers.
The commission also drew attention to the economic importance of the four banks, revealing that they collectively account for approximately 37.2 per cent of total deposits in the Gambian banking industry, valued at 35.3 billion Gambian dalasis.
The banks reportedly contribute 32.6 per cent of the industry's loans, worth 7.67 billion dalasis, and hold about 37 per cent of total banking assets, valued at 44.78 billion dalasis. They also account for 34.5 per cent of investments in Central Bank bonds and provide approximately 90 per cent of the funding supporting the operations of the National Water and Electricity Company.
Dabiri-Erewa warned that a blanket policy that could displace qualified African professionals contradicts efforts to strengthen regional economic cooperation, encourage investments across the continent and promote the free movement of people.
She called on the Central Bank of The Gambia to reconsider its decision and engage the Nigerian High Commission in Banjul, the affected financial institutions and other relevant stakeholders to develop an acceptable resolution.
The NiDCOM chairman further appealed to Gambian authorities to uphold the principles of regional integration under the Economic Community of West African States (ECOWAS) and preserve the longstanding diplomatic and economic relationship between Nigeria and The Gambia.
The Gambian central bank had defended its directive by citing findings from an industry-wide review which reportedly identified a significant number of foreign employees working in commercial banks outside recognised expatriate employment quotas.
The regulator referenced The Gambia's Labour Act 2023 and Guideline 9, which governs expatriate employment in the banking industry, as the legal foundation for the directive.
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