GAMBIA ORDERS BANKS TO REPLACE UNAPPROVED FOREIGN WORKERS

The Central Bank of The Gambia has directed commercial banks to replace non-Gambian employees who are not covered by approved expatriate quotas with qualified Gambian nationals by December 31, 2026.

The directive, contained in a September 16 circular, followed an industry-wide review of employment practices in the banking sector. The regulator said it found a relatively high number of non-Gambian workers employed outside recognised expatriate arrangements.

The CBG said the practice was inconsistent with The Gambia’s Labour Act 2023 and Guideline 9 on expatriate employment in the banking industry.

Banks have been instructed to adopt a phased replacement process, establish succession plans and ensure the transfer of relevant skills and institutional knowledge to Gambian employees.

The directive affects all commercial banks operating in the country, including Nigerian-owned lenders such as Access Bank, FirstBank, Guaranty Trust Bank and Zenith Bank, as well as regional institutions including Ecobank.

The move has attracted criticism from some analysts and commentators who questioned whether there are enough qualified local professionals to fill all the affected positions within the deadline.

Financial analysts cited by Punch warned that a rapid transition could increase recruitment and training costs and create challenges in specialised areas such as technology, cybersecurity, risk management and compliance.

The CBG, however, directed banks to ensure that the transition does not disrupt their operations and that affected foreign employees transfer the necessary knowledge before leaving their positions.