Central Bank governor resigns

The Governor of Libya's Central Bank, Naji Issa, has resigned without giving a reason, several reports said today. Private TV channel Al-Ahrar said Issa had confirmed his resignation, reports africanews. Issa and vice-governor Miree al-Barasee were appointed by Libya's Parliament, which is based in the east of the divided country, in September 2024. His appointment was part of a deal backed by the UN that ended a standoff over Libya's oil production and a deep financial crisis. Libya is still struggling to recover from years of conflict after the 2011 Nato-backed uprising that overthrew longtime dictator Muammar Gaddafi. It remains split between the UN-recognised government of Prime Minister Abdulhamid Dbeibah in the west and a rival authority in the east backed by military strongman Khalifa Haftar. Issa succeeded Seddik al-Kabir, who officials close to Dbeibah had criticised over his management of the bank and state funds, saying he favoured the eastern-based rival administration. After Kabir was removed in August 2024 by the Tripoli authorities, the Benghazi-based administration ordered declared force majeure, suspending all oil production and exports. The shutdown cut Libya's oil output by half to about 600 000 barrels per day, according to the state-run National Oil Corporation. Most of Libya's revenue comes from its oil resources, with the country's production mainly in the east and south – areas controlled by forces loyal to Haftar. The Parliament did not immediately comment on Issa's resignation.

Full africanews report