The Central Bank of The Gambia (CBG) has issued a directive requiring all commercial banks operating in the country to phase out non-Gambian employees who are not covered by approved expatriate quotas, with a compliance deadline set for the end of the year. The order, communicated in a letter dated September 19, targets foreign workers at banks including Nigerian-owned subsidiaries such as FirstBank, Zenith Bank, Access Bank, and Guaranty Trust Bank.
The CBG's directive follows an industry-wide employment study that, according to the regulator, revealed a relatively high number of non-Gambians employed in the banking sector beyond recognised expatriate positions. The central bank cited alleged violations of The Gambia's Labour Act 2023 and Guideline 9, which govern expatriate staffing, as the basis for the order.
Banks Ordered to Replace Foreign Workers with Qualified Gambians
In the letter signed by CBG Second Deputy Governor Ousman Mendy and addressed to managing directors of banks, the regulator instructed financial institutions to replace affected non-citizen employees with qualified Gambians. The directive is part of broader efforts to enforce the country's labour laws and expatriate employment rules.
Beyond the immediate replacement of foreign workers, the CBG directed banks to develop clear succession plans and ensure the transfer of skills to Gambian employees. The central bank emphasised that the transition should be carefully managed to prevent disruptions to banking operations and customer services.
The directive follows an August meeting with bank managing directors where concerns over the number of non-Gambians working in the country's banking industry were discussed. A subsequent industry study conducted by the CBG reportedly found what the regulator described as a relatively high number of foreign employees outside recognised expatriate positions.
CBG Cites Labour Act Violations and Expatriate Guidelines
The central bank said some employment practices were inconsistent with provisions of The Gambia's Labour Act 2023 and Guideline 9 governing expatriate staff. The regulations outline the circumstances under which expatriates may be employed and the permitted quotas for foreign workers.
According to the CBG, the situation was "in violation of the provisions of the Labour Act 2023" and inconsistent with its expatriate staffing guidelines. The regulator's letter stated: "A recent industry study conducted by the Bank revealed that a relatively high number of non-Gambians are employed by banks, in addition to recognised expatriate staff."
The directive puts banks under pressure to review their staffing structures, expatriate quotas, and succession arrangements before the December deadline. The regulator's letter concluded: "You are hereby directed to ensure full compliance with the law and strict compliance with CBG's guidelines."
Impact on Nigerian Banking Subsidiaries in The Gambia
Nigerian-owned banks operating in The Gambia, including FirstBank, Zenith Bank, Access Bank, and Guaranty Trust Bank, are among the institutions affected by the directive. The order could significantly impact their staffing structures, particularly in roles currently filled by non-Gambian employees.
The CBG's move is part of a broader regulatory push to enforce local employment laws in the West African country. The central bank has stressed that the transition should be carefully managed to prevent disruptions to banking operations and customer services, while ensuring full compliance with the law.
This development comes amid a wider trend of African countries tightening local content requirements in the financial sector. The December deadline gives banks a limited window to adjust their workforce compositions and implement the required succession plans.
