Home / Economy / The National Oil condemns the Central Bank’s statement, describing it as “malicious”

The National Oil condemns the Central Bank’s statement, describing it as “malicious”

The National Oil Corporation denounced what it called “inaccuracies and misleading” in the statement of the Central Bank of Libya regarding revenues and expenditures in the period between January and last October, describing it as a “malicious” claim issued by the Central Bank.

The Corporation stated – in a statement on its official page – Sunday, that the actual oil revenues from January this year to October and deposited with the Central bank amounted to 3 billion and 700 million US dollars, equivalent to 5 billion and 200 million Libyan dinars according to the official exchange rate and not as stated in the Central bank’s statement. .

The Corporation said that by comparing the actual revenues in the same period with the estimated revenues according to the financial arrangements, and their value is 5 billion Libyan dinars, it becomes evident that there is a surplus of 200 million Libyan dinars, not a deficit of 2 billion and 600 billion Libyan dinars as stated in the bank’s statement, and perhaps this is because the Central Bank does not account for the revenue of January 2020, which amounted to 2 billion and 500 million Libyan dinars.

The Corporation revealed that the revenues will not be transferred to the central account until it has clear transparency in front of the Libyan people about the mechanism of disbursing oil revenues during the previous years and about those who have benefited from the revenues in foreign currency, the total of which exceeded 186 billion US dollars during the past nine years.

The National Oil Corporation added that the revenues are kept in the corporation’s accounts with the Libyan Foreign Bank “temporary” until a comprehensive political settlement is reached, the most important of which is the fair use of revenues all over the country according to it.

The Corporation asserted that the central bank’s intransigence and lack of commitment to transparency and disclosure of state expenditures created a suitable environment for closing oil and used the central’s dark policies as excuses for the spoilers, and tries to distract the public opinion from the basic issues and falsely claiming the existence of errors in matching numbers with the Corporation after withholding revenues from the bank and asking them to disclose past years expenses.

The Corporation concluded its statement that it is in the process of signing a contract with a major international company to review and audit its financial and administrative systems.

It is worth noting that the Central Bank of Libya accused, on November 19, the National Oil Corporation, of having inaccurate statements in past years, which requires investigation and review ,according to the central bank’s statement.

And he tries to distract the public opinion from the basic issues and falsely and falsely claims that there are errors in matching the numbers with the institution after withholding revenues from him and asking him to disclose the expenditures of the past years.

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