Gambia tells banks to fire foreign workers

The Central Bank of The Gambia has ordered all commercial banks in the country to fire non-Gambian employees.

In a letter dated 19 September, the central bank told banks to gradually let go of non-citizens who are not on approved expatriate quotas by the end of this year.

The letter was signed by Ousman Mendy, the bank’s Second Deputy Governor. It was sent to managing directors of all banks in the country, including Nigerian banks like First Bank, Zenith, Access, Eco, and Guaranty Trust Bank.

The central bank also instructed that the non-citizens who are fired should be replaced with skilled Gambians.

It asked banks to quickly create clear succession plans and transfer skills to local workers. The banks were also told to ensure smooth operations during this transition.

According to the letter, this decision came after a meeting in August between the central bank and bank leaders. They talked about worries regarding the employment of non-Gambian workers in the banking industry.

The CBG noted that a recent study it did showed that many banks hire foreign workers.

It reported that some banks also broke rules in The Gambia’s Labour Act 2023 and Guideline 9 on expatriate staff.

These rules explain when expatriate workers can be hired and what quotas are allowed.

“A recent industry study conducted by the Bank revealed that a relatively high number of non-Gambians are employed by banks, in addition to recognised expatriate staff.

“This is in violation of the provisions of the Labour Act 2023 and also not in line with guideline 9 on expatriate staff,” the letter said.

The regulator urged banks to follow the country’s laws and strictly stick to the central bank’s guidelines.

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