The Libyan Customs Authority announced yesterday the detection of 11 companies that obtained Letters of Credit at the official (and lower) exchange rate without importing any goods.
Investigations showed that US$ 54 million was transferred to foreign beneficiaries without actual imports.
The Customs Authority said legal procedures have been completed, and the case has been referred to the Public Prosecutor’s Office. The Customs Authority reaffirmed its commitment to combating financial corruption and protecting public funds and the national economy.
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CBL denies responsibility for import corruption
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CBL denies responsibility for import corruption
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