The Nigerians in Diaspora Commission (NiDCOM) has expressed deep concern over a directive by the Central Bank of The Gambia requiring banks to replace existing non-Gambian employees with qualified Gambian nationals by December 31, 2026.

In a statement, NiDCOM said the policy could affect 57 Nigerian professionals employed by four Nigerian-origin banks operating in The Gambia.

The Commission recognised Gambia’s right to promote local employment and develop its workforce, but stressed that such policies must be implemented fairly and in a manner that respects existing employment arrangements, legitimate work authorisations and the principles of African solidarity and regional integration.

According to NiDCOM, the affected professionals hold valid residency and work permits and have contributed significantly to the Gambian banking sector.

The four banks collectively account for approximately 37.2 per cent of total banking industry deposits (GMD35.3 billion), 32.6 per cent of loans (GMD7.67 billion) and 37 per cent of industry assets (GMD44.78 billion). They also account for about 34.5 per cent of investments in Central Bank bonds and reportedly contributed 90 per cent of the funding supporting the operations of the National Water and Electricity Company (NAWEC).

NiDCOM described the directive as contradictory to efforts aimed at encouraging African investment, regional economic cooperation and the free movement of people under ECOWAS.

The Commission called on the Central Bank of The Gambia to immediately reconsider and reverse the blanket replacement directive. It also urged the Gambian authorities to engage the Nigerian High Commission in Banjul, the affected financial institutions and relevant stakeholders towards an equitable resolution.