in ,

Libyan Government Begins Plan to Recover Funds Lent By Muammar Gaddafi to His African Peers

The national unity government of Fayez el-Sarraj has just launched an operation to repatriate funds loaned by former Libyan leader Muammar Gaddafi to his African peers. To this end, a steering committee has been set up to collect these funds.

This committee is composed of experts from the Ministry of Finance and the offshore bank Libyan Foreign Bank ( LFB ), it will be responsible for using all diplomatic and legal means to recover these funds.

The funds are expected to help the national unity government cope with falling oil revenues, coupled with the sabotage of oil facilities by armed militias who remain opposed to the power of Tripoli.


Since the fall of the guide Moamer Kadhafi in 2011, the Libyan fortune disseminated around the world is the subject of fantasies. According to the Transitional National Council ( NTC ), which managed the transition period, these funds would be around $ 35 billion.

Businessmen close to Muammar Gaddafi like Tunisian-Swedish Erik Iskander Goaied, however, spoke of several hundred billion dollars that would hide many African countries including South Africa and throughout West Africa.

For many observers, the experts should not be limited to funds lent to African countries. This operation should extend even to countries outside Africa. The national unity government should also be concerned about funds stored in European banks.


Written by How Africa

Leave a Reply

Your email address will not be published. Required fields are marked *


East African Presidents’ Salaries Revealed- Check Out The Monthly Take Home Of Kenyatta, Kagame, Magufuli And Museveni

Remains of Former UN Secretary-General, Kofi Annan Arrive in Ghana for Funeral