The governor of Libya’s central bank, Naji Issa, has resigned without providing an explanation, according to reports confirmed by private television channel Al-Ahrar on Monday.
Issa, along with vice-governor Miree al-Barasee, had been appointed by Libya’s parliament in September 2024 as part of a deal backed by the United Nations. The agreement was designed to end a standoff over the country’s oil production and a deep financial crisis.
His resignation was submitted to the Speaker of the House of Representatives on August 9. Libya’s parliament, which is based in the east of the divided country, did not immediately comment on the departure.
The resignation comes amid ongoing economic turmoil. Libya’s foreign-currency usage by commercial banks during the first five months of 2026 amounted to approximately 12.9 billion dollars, according to central bank data, underscoring the scale of the country’s foreign-exchange market pressures.
Issa succeeded Seddik al-Kabir, whose tenure was marked by criticism from officials close to the Tripoli-based government of Prime Minister Abdulhamid Dbeibah. They accused Kabir of favoring the eastern-based rival administration in his management of the bank and state funds.
After Kabir was removed in August 2024 by the Tripoli authorities, the Benghazi-based administration declared force majeure, suspending all oil production and exports. The shutdown cut Libya’s oil output by half to approximately 600,000 barrels per day.
Libya remains split between the UN-recognized government of Prime Minister Dbeibah in the west and a rival authority in the east backed by military strongman Khalifa Haftar. The country has struggled to recover since the 2011 NATO-backed uprising that overthrew longtime dictator Muammar Gaddafi.
The governor’s departure raises fresh questions about who will manage the delicate balancing act required to maintain oil revenues, which account for nearly all of Libya’s state income. Any disruption to production or financial management could reignite tensions between the rival governments.
Economic analysts say the resignation highlights a fundamental dispute over who bears the cost of economic adjustment in Libya, whether the burden falls on the treasury, the foreign-currency reserves, or the value of the Libyan dinar.
Sources: Africanews, Libya Herald
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