The ousted Libyan dictator Muammar Gaddafi who was killed Thursday is going to be buried at a secret location, according to a late night decision of the country's Transitional National Council, NTC.

Meanwhile, there are still conflicting reports about the exact circumstances surrounding the death of the dictator and the whereabouts of his body.

NATO, which has been running a bombing campaign in Libya for months, said it had carried out an air strike earlier on Thursday in which Gaddafi was wounded and later died. French Defense Minister Gerard Longuet reported French jets had fired warning shots to halt a convoy carrying the Colonel as it tried to flee Sirte.

Acting NTC Prime Minister, Mahmoud Jibril, however, informed Gaddafi had been shot in the head in an exchange between his loyalists and National Transitional Council fighters.

According to the Al Jazeera news agency, the body of the dictator is at a mosque in Misrata while Al Arabia reports that it is at a commercial center in downtown Misrata. A local doctor has confirmed the Colonel died from gunshots in the head.

The site of the Al Libya TV, which is known to be close to the Gaddafi regime, has denied the news about his capture and death and dismisses them as "rumors"

Western leaders took a stand for a speedy transition to true democracy in Libya.

US President Barack Obama said it was a "momentous day" for Libya, now that tyranny had fallen. He pointed out the country had a "long and winding road towards full democracy", but the US and other countries would stand behind Tripoli.

NATO's governing body, meeting later Friday, is expected to declare an end to its Libyan bombing campaign.

NATO Secretary-General Anders Fogh Rasmussen said that with the death of Col Gaddafi "that moment has now moved much closer". He appealed to the new rulers of the country to remain calm and prevent further lynch law.