The Central Bank of The Gambia has ordered commercial banks to phase out non-Gambian employees who are not covered by approved expatriate quotas by the end of 2026, according to multiple media reports.
The directive, contained in a letter dated September 19 and signed by Ousman Mendy, the bank’s second deputy governor, was addressed to managing directors of commercial banks operating in the country, including Nigerian-owned lenders such as First Bank, Zenith Bank, Access Bank, Ecobank and Guaranty Trust Bank.
The central bank directed the affected banks to replace the workers with qualified Gambians, while putting succession plans in place and transferring skills to local employees. Banks were also told to ensure that the transition does not disrupt their operations.
The directive follows an August meeting between the Central Bank of The Gambia and managing directors of commercial banks, where the employment of non-Gambian workers in the banking sector was discussed.
According to the letter, a recent industry study conducted by the central bank found that banks employ a ‘relatively high number’ of non-Gambians in addition to workers recognised as expatriate staff.
‘This is in violation of the provisions of the Labour Act 2023 and also not in line with guideline 9 on expatriate staff,’ the letter stated.
The regulator said the relevant provisions set out the circumstances under which expatriates may be employed and the quotas allowed for foreign workers.
The Central Bank therefore instructed banks to comply fully with the country’s labour laws and its guidelines on expatriate employment.
‘You are hereby directed to ensure full compliance with the law and strict compliance with CBG’s guidelines,’ the letter stated.
The order places particular attention on the banking sector, where several foreign-owned and regional banks operate across The Gambia. Nigerian lenders have expanded their presence in the country as part of a wider regional banking footprint, making the directive relevant to banks headquartered outside The Gambia as well as local institutions.
The central bank did not announce an immediate blanket ban on foreign employees. Rather, the directive targets non-citizens who are not covered by approved expatriate quotas and requires banks to localise the affected positions.
The banks have until the end of the year to implement the directive while maintaining normal operations and ensuring that local employees receive the skills and responsibilities needed to take over the affected roles.