The Nigerians in Diaspora Commission has strongly condemned a recent regulatory instruction issued by the Central Bank of The Gambia that mandates financial institutions to disengage all non-Gambian personnel.
Released on September 16, the directive requires commercial banks operating within the country to transition all foreign positions to local citizens by December 31, 2026. According to NiDCOM, this administrative mandate directly threatens the livelihoods of 57 skilled Nigerian nationals currently employed across four prominent Nigerian-owned banking institutions in the West African nation.
What are the key facts regarding the affected banks?
To understand the magnitude of the directive, NiDCOM highlighted the substantial economic footprint of the four Nigerian-managed banks in The Gambia:
- They control 37.2 percent of total customer deposits, translating to GMD35.3 billion.
- They account for 32.6 percent of industry loans, amounting to GMD7.67 billion.
- They hold 37 percent of total industry assets, valued at GMD44.78 billion.
- They represent 34.5 percent of investments in central bank bonds.
- They extended crucial financial backing, providing 90 percent of the funding for the National Water and Electricity Company.
All impacted Nigerian professionals currently operate under legitimate residency and work documentation.
How has the Nigerian government reacted?
Speaking through a media release issued by agency spokesperson Abdur-Rahman Balogun, NiDCOM Chairperson and Chief Executive Officer Abike Dabiri- Erewa described the order as deeply troubling. While recognizing the sovereign right of Banjul to foster domestic employment opportunities, the commission insisted that regulatory policies must respect established labor agreements, active work permits, and regional integration frameworks.
"It is contradictory to encourage African investment and regional cooperation while displacing qualified African professionals," Dabiri-Erewa stated.
The agency has formally appealed to the Gambian apex bank to rescind the sweeping directive. Furthermore, it encouraged authorities in Banjul to initiate constructive dialogue with the Nigerian High Commission and relevant stakeholders to achieve a mutually beneficial outcome, while safeguarding longstanding bilateral ties and the tenets of the ECOWAS protocol.