BSP monitors developments on million pesos worth of cheques found in Marawi City house

MANILA- - A ranking Bangko Sentral ng Pilipinas (BSP) official declined to give specifics on what the central bank will do vis-A�-vis the Php 27 million worth of checks found in a house in Marawi City, which continues to see fighting after it was attacked by terrorist Maute Group last May 23.

Checks are basically instruments of payment to people that is why it is difficult to comment on it without seeing what is out there in terms of documents or currencies, BSP Deputy Governor Nestor Espenilla Jr. told reporters Tuesday.

Espenilla said it was best to monitor the situation since developments continued to unfold.

Aside from the Php 27 million worth of cheques, government troopers also found at least Php 52.2 million in cold cash.

Espenilla explained that the central bank needs to see any markings on the cheques to check its source, among others.

You have to first look at the physical evidence. We have experts who can do that so it has to be looked into, he said.

The central bank official said there were BSP offices in Mindanao so there could be discussions on ongoing there that I am not aware of.

The BSP has a regional office in Davao City and branches in the cities of Butuan, Cagayan de Oro, Cotabato, Gen. Santos and Ozamis.

President Rodrigo R. Duterte earlier claimed that Maute was being funded by illegal drugs trade.

Espenilla declined to comment on this since despite the million-worth of funds found in a Marawi City house, the owner of which could hardly be known.

Source: Philippines News Agency