BSP wary of proposal to phase out large peso bills

The Bangko Sentral ng Pilipinas (BSP) appeared wary of proposals to withdraw large-denomination peso bills from circulation as a supposed deterrent to corruption, with Governor Eli Remolona Jr. warning that such a move could do more harm than good.

Speaking to reporters on Monday, Remolona said the idea, while still under discussion, risked burdening ordinary Filipinos who rely on cash transactions just to create ‘a small inconvenience’ for corrupt contractors and public officials.

He pointed to similar debates abroad, including in the US, where proposals to phase out high-value banknotes to curb criminal activity-from money laundering to drug trafficking-failed to gain traction amid concerns about their impact on law-abiding cash users.

‘It’s a tantalizing proposal, but it’s not so simple,’ Remolona said. ‘To me, it’s like, you know the saying, you cut off your nose just to spite your face. You’re doing more damage than it’s beneficial.’

‘But we’re still looking [into it]. We haven’t decided yet,’ he added.

Purisima

Cesar Purisima, who served as finance secretary during the administration of the late former President Benigno Aquino III, earlier suggested demonetizing P500 and P1,000 bills, arguing that smaller denominations would make it harder for corrupt officials to stash or move illicit cash.

Purisima said other countries have made similar moves before, though he acknowledged that limiting the highest denomination may bring short-term pain for small businesses and ordinary citizens. For that reason, he said this policy could be complemented with a six-month window for the public to exchange their P1,000 and P500 bills.

His suggestion followed explosive testimony in the Senate where two former engineers from the Department of Public Works and Highways claimed that roughly P1 billion in cash was once delivered to a lawmaker accused of graft.

Irregularities

The money, they said, was packed into more than 20 suitcases and ferried in six to seven vans to the penthouse of Ako Bicol Rep. Zaldy Co at a five-star hotel in Taguig City. Co, who has been linked to irregularities in flood control projects, has denied wrongdoing.

The former finance chief earlier called on policymakers to adopt tougher curbs on cash transactions. He warned that the country’s reliance on envelopes and bags of banknotes has made it easier for corruption to thrive.

The BSP later issued a new regulation limiting over-the-counter cash withdrawals to P500,000 a day, as part of efforts to reduce money laundering risks tied to large-value transactions.

At the same news conference yesterday, Remolona said the central bank was considering other measures to curb corruption linked to cash transactions, including steps to promote the use of traceable, non-cash channels such as checks and digital payments.

He added that the existing P500,000 cash withdrawal limit had been ‘very effective so far.’

‘There are complaints, and we’re listening to those complaints,’ he said. ‘But for now, I think it’s a good measure.’

COA orders reforms, probes auditors over DPWH anomalies

In the wake of corruption allegations surrounding flood control projects, the Commission on Audit (COA) on Monday said it has launched internal investigations and sweeping reforms to strengthen transparency and restore public trust.

COA Chairperson Gamaliel Cordoba, testifying before the Senate finance panel, confirmed that the agency is now investigating its own auditors for possible negligence or complicity in the irregularities flagged in several Department of Public Works and Highways (DPWH) projects.

‘Fraud auditors also look into the possible negligence or complicity of our resident auditors on the ground,’ Cordoba said.

He told senators that the results of these probes are being turned over to COA’s Internal Affairs Office for possible sanctions. In some cases, findings have already led to the suspension of DPWH engineers ‘implicated in ghost or non-existent projects’ through the Office of the Ombudsman.

He cited the DPWH Bulacan First District Engineering Office as a key focus of the probe, where resident auditors handled 11 municipalities and three cities-an extensive coverage that may have led to oversight gaps.

‘We are looking at every layer of accountability. Those who failed to act or allowed wrongdoing to happen will be held responsible,’ Cordoba said.

He also announced that resident auditors will be periodically reshuffled to avoid overfamiliarity with the agencies they monitor. At the same time, all COA officials and personnel will be required to declare any personal or financial interests tied to their assignments to prevent conflicts of interest.

‘We recognize the limitations in manpower, but we are instituting stronger oversight systems. Our fraud auditors will conduct random checks to ensure resident auditors are doing their jobs,’ he said.

Geotagging all infra projects

Among the most significant changes: mandatory geotagging for all infrastructure projects implemented by national agencies, state corporations, and local governments.

COA Commissioner Douglas Michael Mallillin said the audit body is preparing a memorandum circular requiring the use of geotagging for all infrastructure projects, not only those under DPWH but also those implemented by the National Irrigation Administration (NIA), Department of Health (DOH), government-owned and controlled corporations (GOCCs), and local government units (LGUs).

‘Alam natin na ang DPWH, NIA, DOH, and not only national agencies pati mga GOCC, pati mga LGU po ay may infrastructure projects,’ Mallillin said.

The move follows earlier COA investigations into several DPWH projects in Bulacan, where auditors discovered that some contractors had falsified geotags-using actual project photos but linking them to incorrect locations.

‘We will pursue criminal charges against anyone found tampering with geotags or falsifying documentation,’ Mallillin warned.

COA will now use satellite-based verification for greater accuracy and deploy fraud auditors to conduct surprise inspections.

On Commissioner Lipana

Cordoba also addressed senators’ questions about COA Commissioner Mario Lipana, who was previously mentioned during Senate hearings on the flood control anomalies. He explained that Lipana has been on medical leave abroad since August 1 and has extended it until October 30.

‘While COA has no disciplinary authority over an impeachable official, we are fully coordinating with the Office of the Ombudsman,’ he clarified.

Meanwhile, COA is reviewing the possibility of reviving pre-audit procedures for agencies deemed to have ‘weak internal controls.’

‘If an agency has weak internal controls, we are studying the resources required to conduct a pre-audit, especially in terms of manpower and facilities, and we will balance this with the agency’s operational speed,’ Mallillin said.

The reforms come amid mounting public concern over ghost projects, questionable payments, and billions in alleged flood control anomalies uncovered in recent months./tsb

Thunderstorms to drench Manila, nearby provinces

Thunderstorms are expected to hit Metro Manila and nearby provinces Tuesday, Oct. 14, the weather bureau said.

In a 6:32 a.m. advisory, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) reported that moderate to heavy showers with lightning and strong winds will affect Metro Manila, Bulacan, Pampanga, and Zambales within the next two hours.

In Zambales, the following areas will be affected:

Subic

San Antonio

Castillejos

Olongapo

San Marcelino

San Narciso

San Felipe

Other nearby provinces, including Quezon, Laguna, Batangas, Cavite, and Rizal, are already experiencing similar conditions, which may persist for the next two hours and impact surrounding areas.

Meanwhile, Pagasa said in a separate advisory that easterlies will affect parts of Luzon and Visayas, while localized thunderstorms are expected in Mindanao./mcm/abc

Walang Pasok: Class suspensions for Oct. 15 (Wednesday)

Due to the seasonal increase in flu-like illnesses, recent earthquakes and health breaks, classes in the following areas have either been suspended or shifted to alternative learning mode for Wednesday, October 15.

Calabarzon

Laguna – No face-to-face classes in all levels, public and private until Oct. 31; shift to alternative learning mode

Rizal – No face-to-face classes in all levels, public and private until Oct. 17; shift to alternative learning mode

Alitagtag, Batangas – No face-to-face classes in all levels, public and private including Early Childhood Care and Development and Alternative Learning System

Davao Region

Davao Oriental province – No face-to-face classes in all levels, public and private, until further notice

Nabunturan, Davao de Oro – Asynchronous classes in all levels, public and private, until further notice

Mabini, Davao de Oro – No classes in all levels, public and private, until further notice

Monkayo, Davao de Oro – No classes in all levels, public and private, until further notice

Mawab, Davao de Oro – No classes in all levels, public and private, until further notice

Montevista, Davao de Oro – No classes in all levels until further notice

Northern Mindanao

Gingoog, Misamis Oriental – No face-to-face classes in all levels, public and private, until further notice

Metro Manila

University of Santo Thomas – no classes and office work in all levels until Oct. 16 (Thursday). /apl

PVL: Akari survives Chery Tiggo for early Pool B lead

Akari took an early 2-0 lead in Pool B after eking out a 25-11, 22-25, 29-27, 17-25, 15-7 win over Chery Tiggo EV in the PVL Reinforced Conference on Tuesday at Smart Araneta Coliseum.

After failing to close out the game in the fourth set, Ced Domingo restored the order in the decider, scoring four of her 16 points for a commanding 11-5 lead. Fifi Sharma’s running attack and Annie Mitchem’s big block sent Akari to match point, 14-7, before Ren Peñafiel committed an attack error.

Domingo scattered seven kills, five blocks, and four aces. Mitchem and Eli Soyud had 17 points each, with the latter tallying five aces. Chenie Tagaod had 11 points, Sharma chipped in 10 points, while Grethcel Soltones added eight.

‘Of course, coming into this game, I really set a personal mindset and focused on my own goals. First was to contribute to blocking, since that’s the most important for me. And I think the rest of the skills just followed after that,’ said Domingo in Filipino.’

‘In the 5th set, we just needed that one spark to get everyone going. And I really want to commend Ate Grethc because she was that sparkplug for us. When she stepped up, everyone followed.’

Justine Jazareno had 27 digs, while new setter Mars Alba continued to spell the difference for the Chargers with 21 excellent sets and an attack kill to stay unbeaten in two games following a breakthrough win against Creamline on Saturday in Dasmariñas, Cavite.

‘Our matches against teams like Creamline and Chery Tiggo really showed us something,’ said Akari coach Tina Salak in Filipino.

‘In those five-set games, you could really see the team’s character and growth. We stayed composed. A lot of us are maturing and taking on bigger roles and responsibilities. So it’s a good thing that aside from winning those tough five-setters, each player is also growing individually.’

Akari has nine days to prepare for Petro Gazz on October 23 at FilOil EcoOil Centre in San Juan City.

Cess Robles carried the Crossovers with 20 points, while Yunieska Batista had 17 points, 14 digs, and nine receptions. Ara Galang and Mylene Paat delivered nine and eight points, respectively.

Chery Tiggo remained winless in two games, hoping to enter the win column in Ilagan City against Petro Gazz on Saturday.

LTO suspends order on same-day release of license plates, documents

New Land Transportation Office (LTO) Chairperson Assistant Secretary Markus Lacanilao on Monday suspended an order mandating the release of license plates and documents on the same day the new motor vehicles are turned over to their owners.

Memorandum Circular VDM-2025-4665, issued by former LTO Chairperson Vigor Mendoza last September 17, provides the guidelines for the same-day release of license plates and documents of brand new vehicles.

It was supposed to take effect on October 15, 2025.

First, the intention seems good, but it is not practical,’ Lacanilao said in Filipino.

Lacanilao said that this policy needs to be reviewed before it is implemented.

He also clarified that the order will only be suspended and not revoked.

‘This will be difficult to implement, especially in provinces and far-flung areas. It’s not right for the LTO to transfer the responsibility to private businesses,’ Lacanilao added in a press conference.

Mendoza previously said that the memorandum order complies with President Ferdinand R. Marcos Jr.’s directive to expedite the release of license plates and certificates of registration ‘in the soonest possible time.’

Mendoza noted that while the instruction mandates the release of documents within three days, he said that the LTO assessed that they could be done on the same day the new vehicle is turned over to the owner.

The LTO previously said that the memorandum order was to ensure that the Philippines’ 11-year problem on backlogs of license plates would not happen again.

Former Transportation Secretary Vince Dizon earlier announced that the government has cleared the backlog on the release of license plates after 11 years.

He said that the backlog was downgraded to over 5.4 million plates in 2025-more than 2.3 million in Luzon, 1.4 million in Metro Manila, 992,000 in Mindanao, and 672,000 in Visayas.

Meanwhile, Lacanilao also suspended on Monday VDM-2025-4674, or the order prohibiting and penalizing the use of temporary and improvised vehicle plates starting November 1. He noted that the agency will have to review the policy.

Under this memorandum, the LTO would impose a P5,000 fine and confiscate the improvised or temporary plates of violators.

The Department of Transportation said that the distribution of the 5.4 million plates would be completed by October 2025.

Palace: Marcos not afraid to visit, deliver aid in Duterte territory

President Ferdinand Marcos Jr. is not afraid to set foot in Davao, despite it being the bailiwick of the Dutertes, according to Palace Press Officer Claire Castro.

During a briefing on Monday, Castro said Marcos is the leader of the entire nation and will provide assistance to all those in need.

‘The Davaoeños are kind-hearted fellow Filipinos. We know that they have compassion and that they can recognize those who genuinely help them,’ Castro responded, speaking in Filipino, when asked how confident Malacañang is about Marcos’ safety during his visit to the region given his clash with the Dutertes.

‘The President is not afraid to go to Davao because the Davaoeños are our countrymen, and they are the ones in need of help right now. So let’s not turn this into a political issue meant to scare the President from going to Davao,’ she also said in Filipino.

Earlier in the day, Marcos visited Davao Oriental to lead the distribution of assistance to those affected by the recent magnitude 7.4 and 6.8 earthquakes that struck the province.

According to Castro, the President led the turnover of P158.3 million in cash assistance for the municipalities of Manay, Banaybanay, Lupon, Mati City, Tarragona, and several other towns.

Marcos has an ongoing rift with his former political ally, Vice President Sara Duterte. The tension further escalated when former President Rodrigo Duterte was arrested and detained by the International Criminal Court (ICC) in The Hague, Netherlands, last March.

Davao City Mayor Sebastian Duterte also lashed out at Marcos, calling him ‘ungrateful’ after former President Duterte allowed the burial of Marcos Sr. at the Libingan ng mga Bayani in Taguig City in 2016 despite public outrage.

Davao City First District Rep. Paolo ‘Pulong’ Duterte, meanwhile, warned the Marcos administration that it should be held accountable if anything happens to his father while detained at the ICC. /jpv

Magnitude 2.9 earthquake hits San Jose, Romblon

A shallow magnitude 2.9 quake was recorded in San Jose, Romblon province, on Monday morning, the Philippine Institute of Volcanology and Seismology (Phivolcs) said.

According to Phivolcs, the epicenter of the tectonic earthquake that occurred at 10:03 a.m. was located 16 kilometers northwest of the locality. It had a depth of focus of only 6 km.

A tectonic earthquake is produced by sudden movement along faults and plate boundaries.

Phivolcs said the tremor is not expected to cause damage or aftershocks

Puno warns of demolition job vs Romualdez ahead of ICI appearance

A demolition job or scapegoating efforts may be underway against former Speaker Martin Romualdez ahead of his attendance before the Independent Commission for Infrastructure (ICI) hearing on flood control anomalies, according to Deputy Speaker and Antipolo City Rep. Ronaldo ‘Ronnie’ Puno.

Puno’s statement came after reports claimed that a farm-to-market road project in Leyte was linked to alleged overpricing and misuse of public funds.

‘I think the timing is unfortunate because the former Speaker is going to speak before the Independent Commission tomorrow, so it seems like there’s a little demolition going on here,’ Puno said, speaking in Filipino, during an ambush interview on Monday.

‘There is scapegoating that is going on, and then people are pointing to others so that they can escape their responsibility,’ he explained in Filipino.

Puno pointed out that Department of Agriculture chief Francisco Tiu-Laurel Jr. himself mentioned ‘ghost’ and ‘substandard’ projects in other provinces, but none of those were in Leyte.

‘If you remember, he mentioned ghost projects; none are located there. He mentioned substandard projects; none are located there. So I don’t know where that report came from about the Leyte farm-to-market roads,’ he added.

Earlier, Romualdez signified his intention to appear before the ICI after the commission invited him to attend a hearing.

According to Romualdez, this is an opportunity to cooperate with the body tasked to probe anomalous infrastructure projects.

‘The Office of Rep. Ferdinand Martin G. Romualdez confirms receipt today of the invitation from the Independent Commission for Infrastructure (ICI),’ Romualdez’s office said.

‘Rep. Romualdez welcomes the opportunity to cooperate with the Commission and fully supports its objective of promoting transparency, accountability, and good governance,’ it added.

‘In this regard, Rep. Romualdez is prepared to appear before the Commission.’

Earlier, the ICI sent an invitation to Romualdez and a subpoena to former Ako Bicol party-list Rep. Elizaldy Co, requiring them to appear for the body’s flood control probe hearing on October 14.

ICI will also inquire about programs associated with the ghost or substandard flood control projects, as well as the procedures for releasing unprogrammed funds. /jpv

BIZ BUZZ: Mapua opens tourism, hospitality school

Mapua University, founded in 1925 by Tomas Mapua, the country’s first registered architect, is marking its 100th year with, among others, the launch of its newest academic milestone-the School of Tourism and Hospitality Management.

The newest Mapua school will offer degree programs in BS Tourism Management and BS Hospitality Management, recognizing the need for professionals in the industry segment that is projected to continue growing significantly over the next few years.

To stand out from other academic institutions offering similar programs, the Mapua University is partnering with Seda Hotels and Ayala Hospitality as industry partners, thus ensuring that the curricula will be aligned with the actual needs of the industry.

The Ayala Group is in a position to inject real-world applications into the Mapua rigor, given its stake in iPeople Inc., operator of Mapua University, one of the country’s leading academic institutions that has long been known for its engineering program.

Mapua University has, over the past 100 years, expanded into other science courses, architecture and design, information technology, business and health sciences, media studies, and now, tourism and hospitality management.

Tomas Mapua will surely be proud of how far the university that bears his name has come. -Tina Arceo-Dumlao

Viber Dating, anyone?

Technology has completely changed the way people look for and experience connection and intimacy.

With the emergence of online dating apps and social media, one might think it’s now much easier to broaden one’s romantic perspectives and find the perfect match.

But then, some people-this writer included-remain skeptical of online dating apps for reasons that include negative prior encounters and the prevalence of fake profiles and scammers.

Cristina Constandache, chief revenue officer of Rakuten Viber, understands this lingering distrust in online dating apps, but she remains bullish about the prospects of its new service.

Rakuten Viber rolled out its Viber Dating feature in February, which is integrated into the messaging app’s system.

Although she has never used a dating app and is skeptical herself, Constandache said that if she were to get into it, she would prefer to use an app she is already familiar with, like Viber.

‘While I can separate the experiences, it’s an app that I use every day, that I trust, that it comes as a comfortable experience for me, and from there I can use a dating service rather than install yet another app that I have no idea of, that has a certain reputation,’ she added.

Whether you’re searching for a lasting relationship online or offline, Constandache said it was important to do so on your own terms and in a comfortable environment, and never give in to the pressure to behave a certain way. -Jordeene B. Lagare

NUSTAR toasts to Cebu’s resilience

Last Sept. 30, a 6.9-magnitude earthquake rocked the northern Cebu coastal city of Bogo, damaging and destroying homes, roads and utility services.

Official accounts said over 100,000 residents were affected by the powerful earthquake that was felt in other provinces in the Visayas from Samar, Leyte as well as Dinagat Islands in Mindanao and left some 72 dead.

Aside from doing what it can to help those directly affected by the earthquake, NUSTAR Resort and Casino seeks to celebrate Cebu’s spirit of resilience and celebration through its first Holloween Beerfest: Booze and Boos, to be held on Oct. 31 at the NUSTAR Boardwalk in partnership with San Miguel Beer.

Original Pilipino Music exponent The Dawn will be the headliner with homegrown talents Wonggoys and Powerspoonz providing support.

According to NUSTAR, the event will be a ‘symbolic celebration of hope and recovery, showcasing the power of music to unite and uplift.’ -Tina Arceo-Dumlao INQ