Libya's national oil company, NOC, on Thursday 15 October called for an independent inquiry into how the central bank presents oil revenues, then published a table showing 1.448 billion dollars collected and transferred to a sovereign account between 1 and 14 October 2026.
This account is held with the Libyan Foreign Bank, which is attached to the central bank. According to NOC's explanations, the amounts announced by the two institutions cover different stages of the financial process, which includes financing fuel imports before the balance is paid to the central bank.
In its statement of 15 October, the central bank maintains that oil revenues actually received on its own accounts during those two weeks are limited to 361 million dollars. It says this figure matches the Ministry of Finance's records and says it is willing to provide its documents to oversight bodies.
NOC had initially put transfers to the sovereign account, up to 13 October, at 1.232 billion dollars. It explains that sums corresponding to documentary credits for fuel purchases are withheld by the Libyan Foreign Bank, under a mechanism it links to government decision 525 of 2026. The remainder is then transferred to the central bank.
For the company, publishing only this balance gives an incomplete picture of the flows. It asks the Attorney General's office to examine the amounts transferred and how they were settled. The central bank welcomes an independent verification and calls for a presentation of the entire process, from the collection of revenues to their use and the net sums received.