…calls for immediate reversal
The Nigerians in Diaspora Commission (NiDCOM) has expressed deep concern over a recent directive by the Central Bank of The Gambia requiring financial institutions to replace all non-Gambian employees with qualified Gambian nationals by December 31, 2026.
In a statement, NiDCOM Chairman/CEO, Hon. Abike Dabiri-Erewa cautioned that while The Gambia holds a sovereign right to promote local employment and workforce development, such sweeping policies must be executed equitably, respecting valid employment contracts, legal work authorisations, and the core principles of African solidarity.
She revealed that information available to the commission indicates that the policy threatens at least 57 Nigerian professionals currently employed across four Nigerian-origin banks operating within The Gambia. These professionals reportedly hold valid residency and work permits and have built an extensive track record of contributing to the growth and stability of the Gambian banking sector.
The statement underscored the massive economic footprint of these four Nigerian-origin institutions, which serve as crucial pillars of the Gambian economy. Collectively, they account for approximately 37.2% of total banking industry deposits, representing GMD 35.3 billion, alongside 32.6% of loans valued at GMD 7.67 billion, and controlling 37% of industry assets totaling GMD 44.78 billion.
Furthermore, they account for approximately 34.5% of investments in Central Bank bonds and have notably provided 90% of the funding supporting the operations of the National Water and Electricity Company (NAWEC).
NiDCOM pointed out the inherent contradiction in promoting cross-border African investments, regional economic cooperation, and the free movement of persons while concurrently implementing restrictive employment measures that could result in the indiscriminate displacement of qualified African professionals.
“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,” the commission stated.
In light of these developments, NiDCOM has called on the Central Bank of The Gambia to immediately reconsider and reverse the blanket replacement directive.
The commission urged the Gambian authorities to engage the Nigerian High Commission in Banjul, affected financial institutions, and relevant stakeholders toward an equitable resolution, while upholding the spirit of ECOWAS integration and the longstanding cordial relationship between Nigeria and The Gambia through constructive diplomatic engagement.
It also reiterated its commitment to monitoring the situation closely while advocating for the protection and welfare of Nigerian professionals and investments across the Diaspora.
