Central Bank of The Gambia orders GTBank, Zenith, others to replace foreign staff with indigenes by December 31

The Central Bank of The Gambia has directed all banks in the country to phase out non-Gambian employees and replace them with suitably qualified Gambian nationals, with full compliance required by December 31, 2026.

Nigerian banking giants maintain a significant presence in The Gambia, operating through major subsidiaries such as Guaranty Trust Bank (Gambia) Limited, First Bank Gambia Limited, Access Bank (Gambia) Limited, and Zenith Bank Gambia Limited. Some of these have notable foreign directors and staff on their payroll.

The directive, dated September 16, 2026, was issued in a letter addressed to the Managing Directors of all banks and signed by Dr Paul J. Mendy, Second Deputy Governor of the Central Bank of The Gambia.

It followed a meeting held with bank managing directors on August 27, 2026, where the central bank raised concerns about staffing practices across the industry.

According to the letter, an industry study the central bank conducted found that banks in the country employ a relatively high number of non-Gambians, in addition to recognised expatriate staff already accounted for under existing rules.

The central bank said this practice violates provisions of the Labour Act 2023 and is inconsistent with Guideline 9 on expatriate staff.

As a result, banks must adopt a phased approach to replacing existing non-Gambian staff with qualified Gambian nationals, while putting in place appropriate arrangements for skills transfer and continuity of operations. The transition must be fully completed by the end of this year.

“You are hereby directed to ensure full compliance with the law and strict compliance with CBG’s guidelines,” the letter states.

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What this means for banks operating in The Gambia

The directive affects banks with a presence in The Gambia, several of which are subsidiaries of larger Pan-African banking groups with operations spanning multiple West African countries.

Those institutions will now need to identify which roles are held by non-Gambian staff, begin transferring relevant skills and responsibilities to local employees, and complete the transition within a little over three months of the letter’s date.

The Central Bank of The Gambia has not disclosed how many staff across the industry are affected by the directive or named specific institutions in the publicly circulated letter. Banks are expected to communicate their compliance plans to the regulator as part of the phased transition process outlined in the directive.

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