The Bangko Sentral ng Pilipinas on Tuesday confirmed “unprecedented” irregularities involving two supervisors and four employees of the Monetary Board who were receiving salaries without reporting for work.
The Monetary Board, the policy-making body of the BSP, is composed of seven members, along with their respective staff.
“The irregularities appear unprecedented in an organization that upholds integrity and professionalism at all levels. The BSP remains committed to upholding that,” the BSP, known for giving the highest salaries among government employees, said in a statement.
It issued the information to clarify and respond to recent news reports on six employees on the staff of certain Monetary Board members. “We hope this clarifies, within the bounds of confidentiality and fairness due to ongoing proceedings, the steps the BSP has taken since first receiving reports on the issue, to ensure that any erring employee will be held accountable,” it said.
The BSP said that in October 2023, the Office of the General Counsel triggered an investigation after receiving credible information that several staffers in the offices of two MB members had not been reporting for work for extended periods of time but were nonetheless receiving their salaries.
It said that in December 2023, the Office of the General Counsel received an initial report of the investigation and instructed the investigating team to proceed with an in-depth investigation.
“In January, the investigating team submitted the final investigation report, where four employees and their two immediate supervisors were identified. The Office of the General Counsel signed it,” the BSP said.
The BSP said that from late February to early March, four of the employees and one direct supervisor implicated in the report tendered their resignation. Administrative disciplinary cases were filed in March before effectivity of their separation, it said.
The BSP said administrative disciplinary proceedings are ongoing, and further information about them may be confidential.
“The Monetary Board has functioned as normal. In response to speculation that vacancies may occur that would affect the board’s operations, the seven-member board can continue to perform most of its duties provided there is a four-member quorum and the rest of its duties such as granting emergency loans, with five members. We are constrained from commenting further on the Monetary Board members because they are presidential appointees,” it said.