The official spokesperson of the Libyan Customs Authority, Fahmi Al-Maqouri, revealed that the Authority has succeeded in uncovering 11 commercial companies that were granted letters of credit to import goods into Libya at the official exchange rate of the Central Bank of Libya.
He explained that the total amounts transferred in these operations are estimated at $54 million, which were disposed of without any actual goods or services being imported, constituting a serious violation that affects public funds and the national economy.
Al-Maqouri stated that this case was uncovered through investigation and fact-finding efforts carried out by the Customs Authority, which showed that these companies did not import any goods or merchandise into the country, despite completing the documentary credit procedures and transferring the funds from the intermediary bank to beneficiaries abroad.
He added that all legal measures have been taken regarding this incident: an official report was opened to collect evidence, investigations were completed, and the case was referred to the Attorney General’s Office in accordance with jurisdiction.
Al-Maqouri stressed that the Customs Authority will continue its oversight and security role in combating financial corruption and protecting state resources, particularly in relation to smuggling and customs evasion, and will not tolerate any attempts to exploit the documentary credit system or tamper with the national economy.
