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I don't know if it's Libya's or Gaddafi's money - Zuma

Jacob Zuma says the return of funds will be handled in terms of UN guidelines.

FILE: Former Libyan leader Muammar Gaddafi. Picture: AFP

CAPE TOWN - President Jacob Zuma doesn't know whether the money that Libyan officials want to recover in South Africa belongs to slain leader Muammar Gaddafi or the Libyan state, he said in Parliament on Wednesday.

He confirmed that government was approached by Libya to locate the money which was being held by banks in this country.

According to media reports investigators believe there is evidence that more than $1 billion of Gaddafi's assets, in money, gold and diamonds, are being kept in South Africa.

Zuma told parliamentarians representatives from Libya have met with the Finance Minister Pravin Gordhan.

"The two delegations agreed that the return of Libyan funds and assets from South Africa will be handled in terms of the United Nations resolutions and protocols."

The City Press recently reported that there are two rival groups laying claim to the money and resources Gaddafi and his relatives are alleged to have stolen.

He was answering a series of questions in Parliament.