Manila: Former Landbank of the Philippines-Department of Education (DepEd) branch manager Nenita Camposano on Wednesday revealed that the three PHP37.5-million cash encashments by the agency were unusual, being nearly four times the branch's typical cash transaction of around PHP10 million.
According to Philippines News Agency, the three checks totaling PHP112.5 million, all payable to DepEd Special Disbursing Officer Edward Fajarda, were encashed during the first three quarters of 2023. Senator-judge Francis Pangilinan questioned Camposano about the unusual nature of these transactions at the Landbank DepEd branch.
Camposano confirmed that the withdrawn amounts were unusual for government agencies, explaining that the branch's usual DepEd cash transactions typically hover around PHP10 million. Pangilinan further inquired whether this was the first time Camposano had managed PHP37 million cash transactions three times within three quarters, during her 34-year tenure at Landbank specific to DepEd transactions.
Camposano stated, "No, sir. Parang ngayon lang po 'yung time na may encashment na ganun kalaki (It's like only now that there was an encashment that large)." She confirmed to Pangilinan that this was indeed her first experience with such large transactions at the DepEd branch.
Despite having encountered significant cash transactions involving other government agencies while managing different Landbank branches, Camposano expressed concerns about violating bank secrecy rules if she disclosed the names of those agencies. Consequently, Pangilinan did not press her for further details, focusing instead on the scope of her testimony.
Her testimony specifically concerned three checks, each valued at PHP37.5 million, dated February 20, April 19, and July 11, 2023. The checks were encashed by Fajarda on February 22, April 26, and July 13, respectively. Pangilinan summarized the situation by acknowledging that while Camposano had seen such transactions in her broader banking experience, they were unprecedented for the DepEd branch.
Camposano agreed, affirming, "Yes, sir," to Pangilinan's clarification.
