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Libya seeks Gaddafi money from SA

President Jacob Zuma said the funds would be handled according to United Nations protocol.

Slain Libyan leader Muammar Gaddafi. Picture: AFP

JOHANNESBURG - President Jacob Zuma on Wednesday confirmed that government has been approached to recover money reportedly belonging to slain Libyan leader Muammar Gaddafi.

The assets, worth more than US$1billion, are reportedly being held by South African banks.

Speaking in the National Assembly in Cape Town on Wednesday afternoon, Zuma said representatives from the Libyan government met with Finance Minister Pravin Gordhan.

He said both parties agreed that the repatriation of funds would be handled according to United Nations protocol.

"The decision was informed by the fact that the government of Libya established a single body in 2012 to coordinate the repatriation of assets to Libya, in-line with United Nations protocol."

Zuma said he was not certain whether the money in question belonged to Gaddafi or the government.