President Ferdinand R. Marcos Jr. has called for the suspension of Land Transportation Franchising and Regulatory Board Chairman Teofilo Guadiz III amid reports of alleged corruption under his leadership.

In a statement released by the Presidential Communications Office on Monday evening, the President said that he does not tolerate any misconduct in his administration and has instructed the immediate investigation of this matter. He strongly condemned dishonesty and duplicity in public service.

"The President has ordered the suspension of LTFRB Chairman Teofilo Guadiz III pending investigation into allegations of corruption against him," the statement read.

"The President does not tolerate any form of misconduct in his administration and has instructed the immediate investigation of this matter. He strongly condemns dishonesty and duplicity in public service," it added.

Malacañang did not specify the specific allegations against Guadiz. However, it came after a series of reports hurled by its former communications officer about alleged corruption at the LTFRB, including the alleged misconduct regarding the Public Utility Vehicle Modernization Program or PUVMP.

LTFRB's former communications head, Jeff Gallos Tumbado, claimed that operators need to shell out P5 million for a franchise or modification of route.

Tumbado added that the agency's regional directors also have a "quota" of P2 million a month to be remitted to the national head office.

The LTFRB has yet to issue a statement on the issue.