President Jacob Zuma has denied having any knowledge of the cash and assets worth billions of rands that the regime of former Libyan dictator Muammar Gaddafi stashed in the country.
According to Fin24, Zuma responded to questions posed by Members of Parliament with repeated denial of any knowledge of the assets, saying that he was only made aware of the funds when the Presidency was approached by Libyan officials.
Fin24 quoted Zuma as saying: “With regard to whether the money belongs to Gaddafi, or the [Libyan] state, I also don’t know. I don’t know how this money came here [or] who is the owner of it. The only thing I’ve answered is that Libyan officials have come asking for what they know was here.”
Zuma insisted that he had heard of no African National Congress (ANC) connection to the funds and that he was not involved in any way, Fin24 reported.
Recently the Treasury said that assets worth approximately R10-billion would be returned to Libya in accordance with United Nations guidelines. In 2012, the government of Libya established a body to co-ordinate the repatriation of Libyan assets. This body has worked with a UN committee formulated for the express purpose of co-ordinating the repatriation of Libyan assets frozen in other countries.