The Libya Investment Authority (LIA) has firmly denied media reports claiming it has signed a contract granting a foreign company full powers to manage its overseas assets and represent it internationally, amid renewed debate over Libya’s frozen sovereign wealth funds.
In an official statement, the LIA said it has not signed any agreement delegating asset management or legal representation to any foreign firm. It stressed that the draft contract circulating in media reports and on social platforms was never received through official channels and was only seen through published leaks.
The authority said the claims risk misleading public opinion at a sensitive time for Libya’s financial institutions, particularly given the continued international sanctions imposed on Libyan state assets.
The LIA reiterated its commitment to transparency and clarified that it remains open to dialogue with international banks and financial institutions as part of routine efforts to explore future investment opportunities. However, it stressed that such meetings do not constitute binding commitments, contracts, or delegations of authority.
According to the statement, all Libyan sovereign assets remain fully frozen in line with United Nations Security Council Resolution 2769 of 2025. Any future agreements, the LIA said, would be subject to strict governance standards, oversight by the board of trustees, supervision by Libyan regulatory bodies, and prior approval from the UN sanctions committee on Libya.
The authority also called on local and international media to exercise accuracy and avoid spreading unverified information, warning that speculation around asset management could undermine confidence in Libya’s financial governance.
The issue gained attention after Africa Intelligence reported that the LIA was seeking to entrust the management of assets valued at around $68 billion, based on a 2019 assessment, to a British firm. The report claimed the proposed arrangement would allow the company to act on the LIA’s behalf in matters related to managing frozen investments and pursuing efforts linked to the unfreezing of Libyan funds.
The LIA’s statement directly contradicts those claims, underlining that no such mandate or contractual delegation currently exists.
