The Central Bank of Libya in Tripoli, has declared nearly 10.2 billion dinars printed in Russia and Britain, as invalid and must be withdrawn from circulation.
The affected Libyan notes are part of the second issuance of 50 dinars, marked with the year 2023.
The Central Bank of Libya (CBL) confirmed these notes were printed without legal authorization and failed to meet international standards, raising serious concerns about their legitimacy.
The bank has given all the residents up to July 8, 2025, to stop using the notes and until September 30, 2025, to return them to commercial banks.
After these two deadlines, the notes will no longer be accepted.
The CBL made it clear that only the first batch of 50-dinar notes, printed abroad but approved and marked with earlier codes, will remain valid.
The Bank of Libya has taken legal action, informed the Attorney General, and launched an internal investigation to hold those responsible accountable.
The unauthorized printing of over 10 billion dinars in Libya is a serious case of monetary mismanagement and internal abuse of power.
Although the notes were printed by official foreign contractors, they were issued without legal approval from the Central Bank violating Libya’s financial regulations.
This move has weakened the dinar, increased inflation, and damaged public trust in the local currency.
While the act is mostly attributed to the Eastern Region Government, it clearly involved other state institutions, including elements within the Central Bank.
This wasn’t done by criminals or foreign actors, it was a decision made inside the system, without following proper procedures.
What makes the situation worse is that another batch of invalid currency is reportedly on the way, this time involving 20-dinar notes, which have also been declared unapproved.
This points to a wider pattern of illegal currency circulation that threatens Libya’s already fragile economy.
Unless those responsible are named and held accountable, these actions will remain a strong sign that Libya’s financial system is vulnerable to political interference and poor internal oversight