Gambia orders banks to replace foreign staff by Dec 31, 57 Nigerian bankers at risk
The Central Bank of The Gambia has directed all commercial banks to replace non-Gambian employees with qualified nationals by December 31, 2026, putting 57 Nigerian professionals at four Nigerian-origin banks at risk of job losses. The directive, contained in a September 16 circular signed by Second Deputy Governor Dr. Paul J. Mendy, requires a phased replacement with skills-transfer arrangements.
Affected banks include Access Bank Gambia, First Bank Gambia, Guaranty Trust Bank Gambia, and Zenith Bank Gambia. NiDCOM chair Abike Dabiri-Erewa confirmed the 57 Nigerians hold valid residency and work permits and have contributed significantly to the Gambian banking sector. She urged fair implementation respecting existing employment arrangements and African solidarity principles.
The regulator cited an industry study showing high numbers of non-Gambian staff across the banking sector. Managing directors of the four banks include three Nigerians: Gbenga O. Agibola (FirstBank), Abolaji Isaika Yusuff (GTBank), and Mustapha I. Kabiru (Zenith Bank). Access Bank Gambia is headed by Ghanaian Stephen Ahwahyi Abban.
This comes as Nigerian banks deepen African expansion — FUGAZ banks generated ₦1.949 trillion (54.77% of combined group profit) from foreign subsidiaries in 2025. UBA alone earned 92% of its pre-tax profit offshore. The Gambia directive signals growing localization pressure across African markets where Nigerian banks operate.
Will Nigerian banks accelerate local talent pipelines in subsidiary markets, or risk further regulatory friction as host countries prioritize indigenous employment?