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No public entity returns money to governmental accounts

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The spokesperson for the Libyan Audit Bureau, Ahmed Al-Dayekh, said that the public entities refused to return money they possess to the governmental accounts.

Al-Dayekh said, Sunday, that Libyan Audit Bureau got about six Billion from public bodies, were transferred to the state treasury.

“Through zeroing operation, it was found that public bodies were overestimating their financial needs with amounts they don’t need, which negatively affected liquidity management in the state” he said.

Zeroing process was done in cooperation with Libyan Audit Bureau and ministry of treasure, and managed to return more than six Billion to state treasury.

Al-Dayekh pointed that the government is obliged, by virtue of article No.7 of financial law, to return all money holdings at the end of each year to the general revenue account in Central Bank of Libya.