Manila: The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) approved the imposition of maximum penalties in the administrative cases against two supervisors allegedly involved in falsifying attendance records of four BSP staffers dismissed in 2024.

According to Philippines News Agency, the decision, approved on August 20, includes the formal dismissal from service and disqualification from holding public office. The BSP stated that the formal dismissal also involves the forfeiture of retirement benefits, cancellation of civil service eligibility, perpetual disqualification from holding public office, and a bar from taking civil service exams.

The MB's decision followed a thorough deliberation of the issue, which took into account an investigative report submitted by the BSP's legal department. The BSP began its investigation in November 2023, prior to the issue becoming public, carefully evaluating all the evidence and defenses presented.

Before the MB's decision on the two supervisors, the BSP had dismissed the four staffers in July 2024 for falsifying their attendance records, disqualifying them from public office and forfeiting their retirement benefits. The two former MB members, to whom the staffers reported, resigned in June 2024 to the Office of the President (OP), which has jurisdiction over them as presidential appointees. The OP addressed this issue on July 15, 2025.

The BSP assured that reforms have been instituted to prevent similar misconduct in the future. These reforms include enhanced training for supervisors, enforcing the Code of Ethics, administrative action, incident escalation, improved onboarding of new employees, reorganization of the BSP Committee on Ethics and Decorum, and implementing a new human resource system. Additionally, the BSP is studying the organization and management of the offices of MB members, focusing on additional oversight by the Office of the Secretary of the Monetary Board and strengthening its whistleblower mechanism.

The BSP emphasized that the issue was handled swiftly while adhering to due process standards to ensure justice and accountability. The BSP's leadership expressed commitment to maintaining and strengthening integrity within the institution.