TUNIS: Libya’s central bank governor Seddik Al Kabir fled the country this week following threats from armed groups, amid tensions between rival administrations over the bank’s management, the Financial Times reported on Friday.

“The head of the Libyan central bank who controls billions of dollars in oil revenue said he and other senior bank staff had been forced to flee the country to `protect our lives’ from potential attacks by armed militia,” the British newspaper reported.

In a phone interview with the newspaper Kabir, whose location was not specified, said militias have been “threatening and terrifying bank staff” in attempts to push him out of office.

Tensions have been rising since early August when a group of men — some of whom were armed — laid siege to the bank demanding the removal of Kabir.

On Aug 18, the bank announced it was suspending all operations following the abduction of its information technology chief. He was eventually released.

Days later an eastern-based administration in divided Libya said that an “outlaw group” close to UN-recognised government based in Tripoli had forcibly taken over the central bank.

As a result the administration based in the eastern city of Benghazi said it was suspending operations across oil fields and terminals in areas under its jurisdiction.

The locations affected constitute around 90 per cent of the country’s oil fields and terminals The oil blockade has led daily production volumes to dwindle to around 600,000 barrels per day, almost by half.

Kabir has faced criticism from people close to Dbeibah over the central bank’s management of oil resources and the state budget.

Published in Dawn, August 31st, 2024