A new banking employment directive in The Gambia could put the jobs of 57 Nigerian professionals at risk after the country’s central bank ordered commercial banks to replace non-Gambian employees with qualified Gambian nationals by December 31, 2026.
The directive, issued by the Central Bank of The Gambia (CBG), requires banks to adopt a phased replacement of affected foreign employees while ensuring skills transfer and continuity of operations.
The Nigerians in Diaspora Commission (NiDCOM) raised concern over the potential impact of the policy on Nigerian professionals working in the country’s banking sector.
The directive is contained in a circular dated September 16, 2026, following a meeting between the CBG and managing directors of banks operating in The Gambia on August 27.
57 Nigerians face potential job losses
NiDCOM said 57 Nigerian professionals employed by four Nigerian-origin banks in The Gambia could be affected by the directive.
“Information available indicates that 57 Nigerian professionals employed by four Nigerian-origin banks operating in The Gambia could be affected by the directive. These professionals reportedly hold valid residency and work permits and have contributed significantly to the Gambian banking sector,” Abike Dabiri-Erewa, NiDCOM chairman and chief executive officer, said.
Dabiri-Erewa said Nigeria recognised The Gambia’s right to promote local employment and develop its workforce but urged the authorities to implement the policy fairly.
She said existing employment arrangements, valid work authorisations and the principles of African solidarity and regional integration should be respected.
Why Gambia wants foreign staff replaced
The CBG said the directive followed an industry study which found that a relatively high number of non-Gambian nationals were employed across the banking sector, in addition to staff covered by existing expatriate arrangements.
The regulator consequently directed commercial banks to begin gradually replacing affected foreign employees with suitably qualified Gambian nationals.
In the September 16 circular signed by the CBG’s Second Deputy Governor, Dr Paul J. Mendy, the regulator said:
“Consequently, all banks are required to adopt a phased approach to replacing existing non-Gambian staff with suitably qualified Gambian nationals, with appropriate arrangements for skills transfer and continuity of operations.”
The CBG directed banks to complete the exercise by December 31, 2026, while complying with existing labour laws and its employment guidelines.
Four Nigerian banks potentially affected
Checks by Nairametrics showed that four Nigerian-origin banks operating in The Gambia could be affected: Access Bank, FirstBank, Guaranty Trust Bank and Zenith Bank.
Ecobank Gambia also operates in the country but belongs to the pan-African Ecobank Group and is not a Nigerian-origin bank.
According to the list of licensed banks published by the CBG, the affected Nigerian-origin institutions include:
- Access Bank (Gambia) Ltd, headed by Stephen Ahwahyi Abban, a Ghanaian.
- First Bank Gambia Limited, headed by Gbenga O. Agibola, a Nigerian.
- Guaranty Trust Bank (Gambia) Ltd, headed by Abolaji Isaika Yusuff, a Nigerian.
- Zenith Bank Gambia, headed by Mustapha I. Kabiru, a Nigerian.
The December 31 deadline gives the banks less than four months from the date of the directive to implement the replacement process and make arrangements for skills transfer.
Nigerian banks deepen African expansion
The directive comes as Nigerian banks continue to expand across African markets, with their foreign subsidiaries becoming an increasingly important source of group earnings.
Research by Nairametrics showed that in 2025, four of Nigeria’s FUGAZ banks generated a combined N1.949 trillion in profit before tax from their foreign subsidiaries, representing 54.77 per cent of their combined group profit of about N3.56 trillion.
United Bank for Africa (UBA) led the group, generating N671.1 billion in pre-tax profit from its foreign operations across 20 African countries and the United Kingdom. The figure represented about 92 per cent of its group pre-tax profit of N729.785 billion before adjustments.
Access Holdings followed with N571.305 billion in pre-tax profit from its 15 offshore subsidiaries, an increase of 24.2 per cent from the previous year.
GTCO’s foreign subsidiaries generated N375.322 billion in pre-tax profit, up 37 per cent from N273.142 billion in 2024. The group operates in Ghana, Liberia, Tanzania, Côte d’Ivoire, The Gambia, Sierra Leone, the United Kingdom and Kenya.
Zenith Bank generated N331.758 billion in pre-tax profit from its four foreign subsidiaries in Ghana, Sierra Leone, The Gambia and the United Kingdom.
The figures underscore the growing contribution of international operations to the earnings of Nigerian banks.
For the lenders operating in The Gambia, however, the CBG’s directive means their staffing structures could soon change, with Nigerian and other foreign employees potentially replaced by qualified Gambian nationals before the December 31 deadline.
