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NOC Chairman: Failed policies of CBL Governor wasted money of Libyans

The Address | Benghazi – Libya

TRIPOLI – The Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, said on Sunday that the monetary policies of the governor of the Central Bank of Libya (CBL), Al-Siddiq Al-Kabir, are failed policies and wasted the oil revenues money of the Libyans.

Sanalla wondered, in a recorded speech about oil export revenues published by NOC media office, how the funds resulting from the oil sales revenues were spent, indicating that 186 billion were obtained from oil and gas sales and were referred to CBL, and the standard of living for Libyan citizens did not improve.

Sanalla said, “This amount had been spent, but have the lives of the Libyans improved?”, adding, “dinosaurs and monsters that had nothing and now have hundreds of millions and reached billions,” indicating that “they obtained the money through fake credits from CBL”.

He continued, “We are making money with difficulty, and all the employees of NOC are suffering from bitter cold and heat to produce, export, and sell oil.”

He added, “The parties who are now crying over the seizure of funds did not defend during the oil shutdown, they see the National Oil Corporation as a “cash cow. ”

Sanalla stated, “The billions were looted and the mechanism of their disbursement was not disclosed, but we, the National Oil Corporation, are asking how these funds were spent.”


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