Disturbing Signals from The Gambia
Something is brewing in The Gambia, our fellow West African country. Ordinarily, it looks like a simple, routine banking regulation exercise which should not worry any observer, but I fear
In The Gambia, a disturbing development emerges that could impact Nigerian businesses. A directive from the Central Bank of The Gambia (CBG) requires banks to replace their existing non-Gambian staff with Gambian nationals by December 31, 2026. The directive, signed by the second deputy governor, Dr Paul J. Mendy, was issued following a meeting with bank chiefs on August 27, 2026.
The CBG claims the directive is necessary to comply with the Labour Act 2023 and Guideline 9 of its Management and Technical Services Agreement Guidelines, which limit the number of non-Gambians in senior management roles. However, the directive seems to go beyond the guidelines and may disproportionately affect Nigerian banks, which have a significant presence in the Gambian market.
The Central Bank of Nigeria (CBN) has been informed of the directive and asked for a detailed action plan. While the intention behind the directive may be to empower Gambian citizens, the method could potentially lead to resentment against foreigners and set a dangerous precedent for similar policies in other countries.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
