Senator Francis “Kiko” Pangilinan blasted the Land Bank of the Philippines for its statement, which strongly refuted insinuations about the release of P457 million in cash to a government contractor.
During the plenary session on Tuesday, September 30, the senator highlighted the irregularity in Land Bank’s release of P457 million in cash within two days.
“These are all very legalese and if we’re going to use legalese language in order to gloss over the fact that no matter how you look at it two days, cash transactions, 457 million pesos—how can that, in any way, be unsuspicious or regular?,” he asked in response to Senator Risa Hontiveros’ question.
Pangilinan said Landbank’s statement that it faithfully and strictly adhered to existing Philippine banking laws and regulations is alarming.
“Ang tanong: Ibig sabihin ba dahil walang mali sa paglabas ng P457 million cash sa dalawang araw ay mauulit ito? Pwedeng gawin ito dahil to quote, sumunod sila ‘faithfully and strictly’ sa lahat ng existing PH banking laws and regulations?,” he stressed.
“We beg to disagree. Dapat sana sinabi nila sa kanilang statement ‘maghahanap kami ng paraan para hindi na mangyari ulit ito’,” the senator added.
Pangilinan reminded government banking institutions of their responsibilities given that they’re managing taxpayers’ money being squandered away instead of being used for food, education, health, and livelihood.
“Hinihiling ko lang sa Landbank at sa sino man na nag-draft ng statement nila at sa lahat sa ating lahat na pinapa-sweldo ng taong bayan na magkaroon ng mindset na para sa tao, para sa Pilipino, na ialay ang araw-araw na gawain, ang bawat pisong pumapasok at lumalabas sa government banks sa Pilipino, sa kababayan natin,” he said.
“It is not enough to not do bad but we must not stand idly by while bad is happening, or while bad is already being exposed to everyone. Pakiusap po ito: Please, Landbank, let us do better for our people.”
The senator, in response to a question about possible amendments to existing laws, said that there must be “a different set of rules and regulations” for government banks such as the Landbank and the Development Bank of the Philippines.
He also pushed for looking into amending the Anti-Money Laundering Act (AMLA) after he flagged both the Landbank and the Anti-Money Laundering Council for neglecting the suspicious transaction report generated for the P457-million transaction.
“Hindi ba dapat sana’y tinawagan nila (AMLC) ang Landbank at alamin ang detalye? At hindi ba sana kung hindi tumawag ang AMLC eh tumawag ang Landbank sa AMLC—‘Ano ba dapat gawin dito? 457 million cash ang winithdraw galing sa pondo ng DPWH?’,” Pangilinan lamented.
The P457 million in cash was withdrawn by Syms Construction owner Sally Santos, one of the DPWH contractors involved in the multi-billion infrastructure corruption issue. The money was meant for former DPWH Bulacan 1st District assistant engineer Brice Hernandez.