MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has dismissed two supervisors accused of falsifying attendance records for four staffers, ordered the forfeiture of their retirement benefits and imposed lifetime bans from public service following the “ghost employees” scandal that dented the central bank’s reputation.
The supervisors also lost their civil service eligibility, were permanently disqualified from holding public office and barred from taking future civil service exams, the BSP said in a statement on Tuesday, calling the sanctions the “maximum penalties.”
READ: BSP unfazed by likely exit of two MB members
The BSP said the decision of the Monetary Board (MB), the highest policymaking body of the central bank, followed comprehensive deliberation of the issue, taking into account the investigative report submitted by the BSP’s legal department.
“The imposition of maximum administrative penalties on the supervisors is the BSP’s latest step in addressing an issue it always took seriously, valuing the integrity the institution is known for,” the central bank said.
“The BSP has handled the issue as swiftly as possible while observing the standards of due process to ensure that the decision upholds justice and accountability,” it added.
Reports have linked former MB members Bruce Tolentino and Anita Linda Aquino—both appointees of former President Rodrigo Duterte—to the controversy.
In November 2023, the BSP said its Office of the General Counsel opened an inquiry after receiving what it described as “credible” information that several staff members assigned to two board members had not been reporting for work for long stretches but continued to collect their salaries.
Dismissals
Investigators later identified four employees and their two immediate supervisors. Administrative cases were filed before their dismissals took effect in July 2024.
The scandal set off a shake-up at the MB and dealt a blow to the reputation of an institution long regarded for its professionalism. Both Aquino and Tolentino resigned and were succeeded by veteran bankers Jose Querubin and Walter Wassmer.
The BSP said Malacañang has jurisdiction over the former MB members.
The BSP added that it has implemented reforms to prevent similar abuses, including tighter supervision through enhanced training for managers on discipline and ethics enforcement. Onboarding for new employees has also been expanded to highlight the incident as a case study.
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The central bank reorganized its Ethics and Decorum Committee, now led by a deputy governor instead of a director, and rolled out a new HR system that digitizes timesheets and supervisor approvals to improve accountability.
It is also reviewing the structure and management of MB members’ offices, with added oversight from the board secretary, while strengthening its whistleblower program. INQ
