Senator Francis “Kiko” Pangilinan slammed the Land Bank of the Philippines for justifying the release of P457 million in cash to a government contractor within two days.
During a recent plenary session, Pangilinan said Landbank’s claim that it “faithfully and strictly” followed banking laws is troubling.
“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 said, urging the bank to commit to preventing similar cases.
He reminded government banks they handle taxpayers’ money, which should be used for food, education, health, and livelihood—not questionable transactions. “Please, Landbank, let us do better for our people.”
Pangilinan also pushed for stricter rules for government banks and possible amendments to the Anti-Money Laundering Act (AMLA), after both Landbank and the Anti-Money Laundering Council failed to act on the suspicious transaction.
The P457 million was withdrawn by Syms Construction owner Sally Santos, allegedly for former DPWH Bulacan 1st District assistant engineer Brice Hernandez, one of those linked to the multi-billion infrastructure corruption issue.IMT
