Exclusive: Alleged Corruption Suspicions Surround LYD 45 Million Project to Purchase Headquarters for the Export Development Authority

Our source reported that it obtained details of an investment contract for the purchase of a building on behalf of the Libyan Export Development Authority.

According to the report, the contract was signed by the Authority’s chairman, Mohamed Al-Hangari, with a total value of 45 million Libyan dinars. The project is currently under investigation by the Administrative Control Authority amid allegations of corruption.

Based on information cited by the newspaper, the contract included an advance payment equivalent to approximately 65% of the total value of the works.

The report further states that nearly half of the project’s total value has already been disbursed despite the alleged absence of completed work commensurate with the amounts paid.

According to the article, these circumstances have raised questions regarding:

• The contracting procedures used for the project.
• The mechanisms governing the disbursement of funds.
• Compliance with applicable legal and financial regulations.

The article notes that the matter is currently under review by the Administrative Control Authority due to the reported concerns surrounding the project’s execution and financial management.

As presented in the report, these are allegations and matters under investigation, and no findings of wrongdoing have been reported as finalized or adjudicated.