No resignation offer from 2nd MB member in ‘ghost’ mess

MANILA, Philippines — The other Monetary Board Member (MBM) linked to the ghost employee scandal in the Bangko Sentral ng Pilipinas (BSP) has yet to file a resignation letter, even as bankers and government officials were shocked over the involvement of their former colleague.

The other MBM remained firm about not quitting days after Tolentino handed his resignation letter to Malacañang.

BSP Governor Eli Remolona Jr. earlier said the central bank is waiting for word from Malacañang since MBMs are appointed by the president of the Philippines.

The fate of the two members involved in the scandal lies with President Marcos, who has yet to make his decision regarding the issue.

In January, the BSP was able to identify four ghost employees who received the benefits and salaries without reporting for work. It is currently taking administrative action against these individuals.

The BSP earlier said the Monetary Board would function normally despite the ongoing investigation involving two of its members and would continue to do so as long as there is a minimum of four members to perform the duties of the MB.

“Despite the concerning nature, the central bank’s proactive approach to addressing the issue, combined with its track record of sound monetary policy and role in maintaining economic stability, suggests that the impact on financial markets may be managed and short-lived, if any at all,” Security Bank chief economist Robert Dan Roces said.

“As the BSP continues to handle the situation transparently and decisively, it can help maintain confidence and minimize any lasting consequences, particularly given the resilience of the Philippine economy and the central bank’s history of sound decision-making,” Roces added.

Current and former officials at the Department of Agriculture were shocked by the controversies involving Tolentino, who was a former DA official.

One source, who had worked with the embattled MBM in the past, described Tolentino as a good man with utmost integrity who is incapable of doing illegal and unscrupulous actions.

“He is a good man. He is not corrupt. Masyado siyang matino (He is too decent),” the source said.

Another source said that Tolentino has