Daily TribuneThe BSP said because administrative disciplinary proceedings are ongoing, information about the two Monetary Board members and presidential appointees alleged to have employed ghost employees at the BSP will remain confidential; regarding the two MB members, ‘we are constrained from commenting further because they are presidential appointees’
In a statement regarding the administrative cases filed against two Monetary Board members who were presidential appointees alleged to have employed six ghost employees at the Bangko Sentral ng Pilipinas, the BSP said, ‘The irregularities appear unprecedented in an organization that upholds integrity and professionalism at all levels. The BSP remains committed to upholding that.’
photograph courtesy of bsp
The Bangko Sentral ng Pilipinas (BSP) on Tuesday stressed its Monetary Board is working normally despite the administrative cases filed against two board members and presidential appointees alleged to have employed four ghost employees at the central bank.
“The irregularities appear unprecedented in an organization that upholds integrity and professionalism at all levels. The BSP remains committed to upholding that,” the central bank said in a statement.
“The Monetary Board has functioned as normal. In response to speculation that vacancies may occur that would affect the board’s operations,” it added.
Resigned between February and March
The BSP said four employees and one supervisor already resigned between February and March. This was after the central bank’s Office of the General Counsel received the final report on such cases in January.
The BSP said its seven-member Monetary Board will continue to fulfill its duties even with incomplete members.
Under its rules, the BSP said the Monetary Board can decide on its policy rate even with only four members. They adjust the rate to help manage prices of goods and services.
The BSP added its Monetary Board can approve emergency loans even with five members.
Investigation on the persons indicated in the report began in October last year, after the Office of the General Counsel received “credible” information.
The media have been reporting on the two Monetary Board members and their ghost employees since 10 May, saying that the latter will be required to return the amount of the salaries they illegally amassed if found guilty.
Confidential
“As BSP has stated since the first media reports on the issue on May 10, because the administrative disciplinary proceedings are ongoing, further information about them may be confidential,” BSP said.
The BSP is also still waiting for the decision on the two Monetary Board members.
“We are constrained from commenting further on the Monetary Board members because they are presidential appointees,” the central bank said.
