The Libyan Interim Government confirmed that it was closely following the war of words between the Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, and the Governor of the Central Bank of Libya (CBL), Siddik Al-Kabir. A series of leaked letters, and accusations of corruption as well as mismanagement of funds by the two have taken place over the past week.
During a statement regarding Sanalla freezing the oil revenues account, the Interim Government said: “In his speech, Mr. Sanalla explained the billions that have entered the public treasury thanks to oil revenues, which is the only source of income for Libyans, without significant improvement in the standard of living of the citizen.”
“Without going into the details and content of this speech that most Libyans followed, the Libyan government affirms what was stated in it. The government was the first to call since 2015 for a fair distribution of oil revenues, in a way that improves government services and reflects positively on the citizens’ standard of living”, the statement added. It also stressed the need for the NOC to keep the oil revenues in its account with the Libyan Foreign Bank (LFB), until a mechanism is found to ensure a fair distribution for it.
The Interim Government explained, “The reason for the deterioration of the Libyan citizens’ conditions is the absence of transparency in the CBL’s spending over the past decade. Some people became wealthy at the expense of others, through fictitious and speculative credits at the unconsolidated foreign exchange rate.”
It called on everyone to play their role and keep the oil revenues in a frozen account until a way is found to ensure its fair distribution so as to achieve the welfare and dignity of the citizens.