One of Libya’s governing bodies, the Tripoli-based Presidential Council, has dismissed Central Bank Governor Sadiq al-Kabir, replacing him with Mohamed Abdul Salam al-Shukri, an economist and former deputy governor. The move is likely to exacerbate the country’s political divisions, especially since the council, allied with the government of Prime Minister Abdul Hamid Dbeibah that controls western Libya, took the decision unilaterally. Al Kabir has held the position since 2011 and, over the years, accumulated significant influence and support. However, he has also been the target of criticism from both of the nation’s governments, especially regarding his handling of Libya’s oil revenues. Those criticisms have grown into calls for his removal in recent months. Nevertheless, his removal has been described as illegitimate by the Supreme Council of State, an advisory body based in Tripoli, and the rival government to the east, with both bodies arguing that the Presidential Council’s unilateral decision violates UN-backed agreements.
SOURCE: AFRICA NEWS