BSP ensures smooth functioning amid employee probe

By Francis Allan L. Angelo

The Bangko Sentral ng Pilipinas (BSP) has addressed recent reports concerning six employees linked to Monetary Board (MB) members, emphasizing the institution’s ability to maintain its operations with its seven-member board.

In a detailed statement, the BSP outlined steps taken since October 2023 to address allegations that several staffers in the offices of two MB members had been absent for extended periods while still receiving salaries.

The Office of the General Counsel initiated an investigation upon receiving credible information.

“The irregularities appear unprecedented in an organization that upholds integrity and professionalism at all levels. The BSP remains committed to upholding that,” the BSP said.

The investigation’s initial report was received in December 2023, leading to a more thorough inquiry.

By January 2024, the final report implicated four employees and their two supervisors, resulting in the resignation of most involved parties by early March 2024. Administrative disciplinary cases were filed before their separation.

Despite these issues, the BSP reassured the public of the Monetary Board’s functionality.

“The 7-member board can continue to perform most of its duties provided there is a 4-member quorum and the rest of its duties such as granting emergency loans, with 5 members,” the statement read.

The BSP emphasized its commitment to confidentiality and fairness due to the ongoing proceedings and assured that any erring employees would be held accountable.