The Deputy Head of the Libyan Presidential Council, Abdullah Al-Lafi, discussed in a meeting with the President of Central African Republic (CAR), Faustin-Archange Touadéra, on the sidelines of the African Union's summit in the Ethiopian capital, Addis Ababa, threats of confiscating Libyan assets in CAR. The Presidential Council said in a statement that they also reviewed bilateral relations as well as the file of Libyan investments in CAR and ways to protect and preserve them. On January 27, the Libyan African Investment Company (LAICO) said it owned a five-star hotel, two residential buildings, and a piece of land obtained by Libya in exchange for loans granted to CAR according to an agreement signed between the two countries in 2007. LAICO rejected the auctioning of its assets, blaming one of its employees in CAR for it, and accusing him of refusing to hand over the company's management duties at the end of his mandate period. The HoR's Committee demanded an immediate halt of the auction and called for taking all required accountability measures against those responsible for this step in order to protect Libyan investments in CAR and other countries.

Source: Libya Observer February 20, 2023 00:44 UTC