The GNU Prime Minister, Abdulhamid Dabaiba, instructed on 29 April the acting chairman of the National Oil Corporation (NOC), Masoud Suleiman, to ensure the swift transfer of oil revenues to the Central Bank of Libya (CBL).
During a meeting attended by NOC board members and department heads along with the acting GNU oil minister, Khalifa Abdulsadek, as well as the head of the Audit Bureau and some GNU officials, Dabaiba said that funds had to be transferred within 48 hours of receipt. This was in accordance with applicable laws and regulations.
Suleiman responded that the NOC was committed to the government’s instructions, as well as the laws and regulations in place, and agreed that transfers would be implemented within the 48-hour period.
Dabaiba also stressed to Suleiman and Abdulsadek the need for prompt collection of all oil and gas revenues, including royalties, and their immediate transfer to the CBL. This would prevent a recurrence of errors under the previous NOC administration, which reportedly left approximately one billion US dollars in oil revenues with a foreign partner, potentially putting funds at risk
