Senator Francis “Kiko” Pangilinan slammed the Land Bank of the Philippines (Landbank) for what he described as its attempt to absolve itself of accountability in connection with the massive cash withdrawal made by a flood control contractor earlier this year, as reported by RH Raymund Dadpaas.
Pangilinan voiced concern after LANDBANK officials maintained that the bank committed no violations when Mrs. Sally Santos of SYMS Construction withdrew a total of ₱457 million in cash over two consecutive days.
The bank had asserted that the transaction complied with existing Philippine banking laws and regulations.
The senator, however, warned that such a stance was alarming since it could set a precedent for similar high-value cash withdrawals in the future.
He argued that LANDBANK should instead review and strengthen its internal safeguards to prevent questionable transactions involving public funds.
“Kung tama ang naging statement ng landbank na wala silang ginawang mali, sumunod sila faithfully at strictly sa lahat ng existing Philippine banking laws and regulations, ang tanong ibig sabihin ba dahil walang mali sa paglabas ng 457 million pesos cash sa dalawang araw ay mauulit ito? Pwedeng gawin ulit?” Pangilinan said, stressing that the funds involved are taxpayer money that should have been handled with utmost care.
During a Senate Blue Ribbon Committee hearing, Santos admitted she had withdrawn ₱457 million in March 2025 and delivered the cash to Engineer Brice Hernandez of the Bulacan First Engineering District.
Pangilinan criticized Landbank for not assuring the public that corrective measures would be taken. “We beg to disagree. Dapat sana ay sinabi nila sa kanilang statement na ‘maghahanap kami ng paraan para hindi na mangyari ulit ito’.”
In an online statement, the LANDBANK of the Philippines (Landbank) reiterated that it strictly follows laws, regulations, and proper procedures in handling government accounts, following criticism over the withdrawal of ₱457 million by a flood control contractor
“Sa LANDBANK, malinaw ang aming paninindigan: lahat ng aming ginagawa ay nakabatay sa batas, regulasyon, at tamang proseso,” the statement said.
The bank management further stated that they are ready to cooperate with the authorities regarding the investigation of the flood control funds to assure a justifiable process.
“Nakahanda ang LANDBANK na makipagtulungan nang buo sa mga kinauukulang awtoridad at investigating bodies upang makatulong sa pagpapatunay ng katotohanan at sa pagsulong ng katarungan.”
The controversy adds another layer to the ongoing investigation into the flood control scandal, where massive government funds allegedly flowed into questionable infrastructure deals.
