The monies were stashed in South Africa.
The South African Treasury has confirmed that an agreement, to repatriate the millions of dollars held in South Africa by the Muammar Gaddafi regime, has been reached with the Libyan Government.
The Finance Minister, Pravin Gordhan, said the transfer of “what is thought to be about one billion dollars”, would be done under the terms of the UN Protocol.
The asset are in the form of funds held by local banks as well as gold bullion stored at Johannesburg’s OR Tambo International Airport.
Mr. Gordan met with a high-level Libyan Government delegation tasked with locating all asset taken out of Libya by Gaddafi and his aides.
Earlier this month, it was revealed that Mr. Gaddafi’s former Chief of Staff, Bashir Saleh, who is on Interpol’s most-wanted list, had surfaced in South Africa. It appeared he assisted the deposed Libyan leader and his family to stash the money in South Africa.
The official opposition Democratic Alliance said Mr. Saleh was spotted at the 5th BRICS summit in Durban earlier this year. It expressed concern at claims that he is able to fly regularly – without being detained – between South Africa, Swaziland and Niger.
It called for Mr. Saleh to be arrested and a full investigation conducted “so that the world knows that South Africa will not allow itself to become a safe haven for international criminals.”