FORMER Finance Undersecretary Cielo Magno on the appointment of former Budget Secretary Amenah Pangandaman as chair and CEO of state-run Al-Amanah Islamic Investment Bank of the Philippines: ‘If you, who were involved in the release of funds for flood control projects, suddenly resigned and are now appointed as CEO of a government bank, what do you call that? Rewarded?’
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Former Finance Undersecretary Cielo Magno has questioned the appointment of former Budget Secretary Amenah Pangandaman as chair and chief executive officer of state-run Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP), questioning her return to government service after being linked to the flood control controversy.
In social media, Magno said Pangandaman, who resigned in November last year out of delicadeza after being implicated in the controversy, has yet to be formally investigated over her alleged role.
“She was not investigated, was not charged, and yet was appointed as CEO of a government bank,” Magno said in Filipino.
“What do you think? Rewarded?”
“So, if you were involved in the release of funds for flood control projects, suddenly resigned, and are now appointed as CEO of a government bank, what do you call that? What do you think? Rewarded?” she added.
AAIIBP announced Pangandaman’s appointment on 10 July, describing it as the beginning of a new chapter for the country’s only Islamic bank as it seeks to expand financial inclusion and strengthen Islamic banking nationwide.
Pangandaman’s tenure as secretary of the Department of Budget and Management coincided with heightened scrutiny of the national budgeting process, during which allegations of corruption involving flood control appropriations were raised against several government officials.
Alleged budget insertions in the DPWH
Her name also surfaced during a 2019 congressional inquiry into alleged budget insertions in the Department of Public Works and Highways while she was serving as a DBM undersecretary. Some DPWH officials claimed that a P75-million budget item had been inserted upon her instruction.
Former lawmaker and now-fugitive Zaldy Co also alleged that Pangandaman told him President Ferdinand Marcos Jr. had ordered the insertion of P100 billion worth of projects during the bicameral conference committee deliberations on the 2025 national budget.
“This started when Secretary [Amenah] Pangandaman called me when the bicam process began last year, in 2024. She told me that she had just finished a meeting with the President, and there were instructions to insert P100 billion worth of projects into the bicam,” Co said in a video posted on Facebook in November, shortly before Pangandaman’s resignation.
