3,000 state-sector employees corruptly request opening of LCs to engage in prohibited private sector business: National Anti-Corruption Commission

By Sami Zaptia.

London, 17 August 2020:

Libya’s National Anti-Corruption Commission (NACC) reported yesterday that its National ID Number Committee had through its investigations discovered 3,000 state-sector employees has requested the opening of Letters of Credit (LCs) for their private sector companies in 2017.

These state-sector employees had held chairs of boards in their companies – which Libyan law prohibits.

The NACC said that these state-sector employees were in all sectors and at all levels. They also held a private banking code.

The Central Bank of Libya had introduced the use . . .

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