218News unveils details of Libyan Audit Bureau’s confidential 218 report, including mismanagement of $1.5 billion

218News exclusively reported he details of the controversial report of the Audit Bureau, issued in 2018, and it has not been presented to public opinion, since the date of its issuance, until this moment, at the request of the State Council headed by Khaled Al-Mashri.

The Audit Bureau’s report was described as “the most serious” over the past years, as the report refers to “criminal economic” crimes related to the Central Bank of Libya, up to the Attorney General’s request to investigate the Central Bank Governor, Siddiq al-Kabir, on charges of theft and embezzlement of billions of foreign currency, and seeking to weaken local currency and open credits to a certain group of businesspersons  only.

The report, consisting of 16 papers, monitored huge thefts from the Central Bank account, amounting to 1.5 billion dollars, by order of Al-Siddiq Al-Kabeer in 2018.

The report stressed, in its fifth point, during the Court’s inference minutes with the Undersecretary of the Ministry of Economy, that the Central Bank was insisting on passing a decision to supply goods worth 1.5 billion dinars, which was prepared in the corridors of the Governor’s office, in the presence of a number of businessmen, whose number ranged between 7 and 9 people, to refer the draft decision to the Head of the Presidential Council for implementation.

In 2018, the country witnessed a severe shortage of cash, medicines and everything related to the daily life of the Libyan citizen. At the same time, the Central Bank began distributing credits to businesspersons, during the mandate of the Government of National Accord headed by Fayez Al-Sarraj, which facilitated the procedures for credits.

The Head of the Audit Bureau, Khaled Shakshak, explained, in his remarks, that the decision of credits, worth 1.5 billion, is in the interest of a limited number of businessepersons, and contributes to monopoly and eliminated the efforts made in regulating credits through the budget.

In addition, the report pointed to the suspicious ambiguity and concealment of information related to the implementation of the appropriations, and what faltered from them in terms of the number, items and amounts spent to cover them, and the absence of the role of the Ministry of Economy, in addition to accusing the Central Bank of practicing a policy of secrecy to hide the fact that most of the appropriations of the Importation Budget Committee were not implemented.

Observers described the report, whose details “218News” revealed, as important and dangerous, noting that the charges contained in it would be a major reason for imprisoning the Governor of the Central Bank of Libya, Siddiq Al-Kabeer, due to manipulation of public funds; The Libyan dinar collapsed against foreign currencies at the time, and the value of the dollar reached about ten dinars due to misconduct in monetary policy.

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