Business

Gambia Orders Nigerian Banks To Replace Foreign Staff by December 2026

Each bank is expected to identify suitably qualified Gambian nationals who can fill affected roles as the transition progresses.

Published

2 months ago

September 22, 2026

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The Central Bank of The Gambia has ordered commercial banks, including Access Bank, Guaranty Trust Bank (GTBank), FirstBank, Zenith Bank and Ecobank, to replace non-Gambian employees with suitably qualified Gambian nationals by December 31, 2026.

The directive came in a circular dated September 16 and signed by CBG Second Deputy Governor Dr Paul J. Mendy.

The order followed a meeting between the central bank and managing directors of commercial banks on August 27, as well as an industry-wide review of how banks employ foreign personnel.

The CBG said the review uncovered a “relatively high number” of non-Gambians working in banks beyond those covered by recognised expatriate arrangements.

The regulator said the situation violates The Gambia’s Labour Act 2023 and is inconsistent with Guideline 9, which governs how banks employ expatriate staff.

It directed all banks to adopt a phased approach to replacing existing non-Gambian staff with qualified Gambian nationals.

The CBG said: “Consequently, all banks are required to adopt a phased approach to replacing existing non-Gambian staff with suitably qualified Gambian nationals, with appropriate arrangements for skills transfer and continuity of operations.

“Banks must also ensure that as positions are localised, the transition does not cause the loss of critical institutional knowledge or disrupt day-to-day banking services.

Each bank is expected to identify suitably qualified Gambian nationals who can fill affected roles as the transition progresses.

Credit: Abokiforex.com

Related Topics:Featured Gambia Nigerian banks foreign staff replacement

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NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

2 days ago

November 4, 2026

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.