Derregia accuses Al-Sarraj of toying with public funds

Former head of Libyan Investment Authority accuses prime minister of mishandling public funds

BY Libyan Express Dec 02, 2020 - 23:54 Updated: Dec 03, 2020 - 20:37

An oil company was established last May in London by the Prime Minister according to the former head of LIA. [Photo: Archive]

The former chairman of the Libyan Investment Authority (LIA), Dr. Mohsen Derregia, revealed that the head of the Presidential Council Fayez al-Sarraj has established an oil company in London this past May that’s run by the head of marketing for the National Oil Cooperation (NOC).

He added, “Is this company for marketing oil or importing it? There is no need for this cooperation except to toy with Libyan people’s money.”

He also gave a full list of the company’s directors, Imad Abdalatif Salem, Ibrahim Abduljalli Alghumari and Khalifallah Mufatah Ebrahim, the company is called Murzuq Oil Services limited

He concluded the statement that came from his official Facebook page by saying “We are waiting for Mustafa Sanalla to explain this to us with the same enthusiasm as his last speech.”

The former head of the investment authority was referencing the Chairman of the NOC’s last public statement in which he scathingly went after the Central Bank of Libya with accusations of embezzling public funds and declared that oil revenues will remain frozen until failed and unjust policies are fixed in the bank.

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