Conflicting oil revenue figures have triggered a dispute between the Central Bank of Libya and the National Oil Corporation (NOC), after the two institutions reported different totals for funds transferred during the first half of October.
The central bank said oil revenues received in its accounts from the start of the month through October 14 amounted to $361 million. It said the figures were based on its banking records and matched Finance Ministry data.
The NOC, meanwhile, said it had transferred about $1.23 billion to the sovereign account at the Libyan Foreign Bank through October 13. It attributed the discrepancy to deductions for fuel import letters of credit handled through that bank under Council of Ministers Decision No. 525 of 2026, before the remaining balance was transferred to the central bank.
The corporation said it had informed the central bank governor on October 8 that transfers had exceeded $700 million. It called for official clarification of how these financial flows were recorded and settled.
Escalating the dispute, the NOC asked the prosecutor general’s office to open an independent investigation to verify the reported figures, review the mechanisms for settling oil revenues and establish responsibility for the way financial data were presented.
