The South African government would repatriate to Libya assets reportedly stashed by slain Libyan leader Muammar Gaddafi, President Jacob Zuma said on Wednesday.

This would be done according to the UN protocol, Zuma told the National Assembly (parliament) in Cape Town.

The South African government announced on Friday that it would repatriate Libyan funds and assets under an agreement reached with Tripoli.

Representatives from the Libyan government met with South African Finance Minister Pravin Gordhan recently to request the recovery of the assets, Zuma said.

Both parties agreed that the repatriation of funds would be handled in light with the UN protocol, according to Zuma.

To coordinate the repatriation of assets to Libya, the Libyan government established a single body in 2012, which cooperates with a UN committee formed in terms of the UN Security Council Resolution 1970 (2011) and the Panel of Experts.

The amount of Libyan funds and assets to be repatriated remains unknown.

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

It is speculated that Libyan state assets amounted to more than 1 billion U. S. dollars in cash, gold and diamonds held by four banks and two security companies in South Africa.

Gaddafi was believed to have stashed 80 billion dollars in assets around the world.