Had a clutch cable break last fall at the clutch lever pivot which I had not lubed as there is a plastic bushing in that joint. The OEM replacement cable looked like it was Teflon lined but I am not sure of that. I now use Belray chain wax on the pivots top and bottom and on the cable itself. Sprays as a liquid and dries to a white slippery coating. Won't attract dust, and makes the clutch pull smooth as butter.
Teflon is one of the most chemically inert of all plastics. Oils, fuels, grease, and all petro based solvents will not attack it. If a cable lining is destroyed by oil based lubes it is because the oil attracts dust and the "abrasive slurry" of oil and dust wears away the softer Teflon, or if the lining dissolves the lining isn't Teflon at all but a cheaper plastic coating.