Fifty-seven Nigerian professionals working in The Gambia’s banking sector risk losing their jobs following a directive by the country’s central bank requiring banks to replace non-Gambian employees with qualified local workers by December 31, 2026, according to the Nigerians in Diaspora Commission (NiDCOM).

The directive, signed on September 16, was based on a study conducted by the Central Bank of The Gambia, revealing that banks employed a relatively high number of non-Gambian workers outside recognised expatriate arrangements, in violation of the Labour Act 2023 and Guideline 9 on expatriate staff.

Affected Nigerian-origin banks include Access Bank, FirstBank, Guaranty Trust Bank and Zenith Bank. They have been directed to adopt a phased approach to replacing existing non-Gambian employees with suitably qualified Gambians, while ensuring a smooth transfer of responsibilities and continuity of operations. This transition must be completed by December 31, 2026.

Abike Dabiri-Erewa, chairman of NiDCOM, expressed concerns and said, while NiDCOM recognises Gambia’s right to promote local employment and develop its workforce, policies like this must be implemented fairly and in a manner that respects legitimate work authorisations and the principles of African solidarity and regional integration.

NiDCOM raised concerns that 57 Nigerian professionals employed by four Nigerian-origin banks operating in Gambia could be affected by the directive.

“These professionals reportedly hold valid residency, work permits and have contributed significantly to the Gambian banking sector”, she said

The commission noted that the four banks account for approximately 37.2 percent of total banking industry deposits (GMD35.3 billion), 32.6 percent of loans (GMD7.67 billion) and 37 percent of industry assets (GMD44.78 billion).

It also accounts for approximately 34.5 percent of investments in Central Bank bonds and reportedly contributed 90 percent of the funding supporting the operations of the National Water and Electricity Company (NAWEC).

Segun Jogunomi, director Experthand Nigeria Limited, said Nigeria and Gambia have enjoyed bilateral relationship for decades and the country even played a direct role in establishing the modern Gambian Judiciary.

He reinstated how Nigeria heavily subsidised the institution when the University of The Gambia (UTG) was established in 1999, by deploying professors, lecturers, and administrative experts under the Technical Aid Corps (TAC) scheme.

“Generations of Gambian doctors, lawyers, and civil servants were trained directly by Nigerian academia who set the curriculum standards”, Jogunomi said, adding that these efforts shouldn’t be jeopardized.

However, Eniola Latishe, a finance analyst, said this would definitely serve as an eye opener for the government to start prioritising its own citizens , both home and abroad, across the globe.

“Its a moment of reflection to think about”, he said.

Dabiri-Erewa called on the Central Bank of Gambia to immediately reconsider and reverse the blanket replacement directive and engage the Nigerian High Commission in Banjul, affected financial institutions and relevant stakeholders towards an equitable resolution.

She urged the Gambian authorities to uphold the spirit of ECOWAS integration and the long standing cordial relationship between Nigeria and The Gambia.

“It is contradictory to encourage African investment, regional economic cooperation and the free movement of people while adopting employment measures that could lead to the indiscriminate displacement of qualified African professionals”, she said.