The Administrative Control Authority (ACA) considered the decisions issued by the Board of Directors of the Libyan Investment Authority (LIA) invalid, for violating the law.
"The decisions were issued in the absence of the LIA's CEO, against the background of ongoing investigations with him by the Office of the Attorney General," ACA explained in a statement Thursday.
The ACA requested the Chairman of the Board of Trustees of the LIA to hold a meeting urgently, in the presence of the Board of Trustees to take action on these violations, according to the statement.
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