Former Philippine congressman Zaldy Co (left) accuses President Marcos Jr. of ordering P100B in budget insertions. EXPAT MEDIA

The Philippines is now grappling with one of its biggest political shocks in years after resigned Ako Bicol Rep. Elizaldy “Zaldy” Co accused President Ferdinand Marcos Jr. of personally ordering P100 billion in budget insertions into the 2025 General Appropriations Act — a revelation that opposition lawmakers now describe as exposing “the chief architect of corruption.” Co, who fled the country in July allegedly on medical leave and later resigned after being tagged in a massive flood-control corruption scandal, released a five-minute video accusing Marcos, Budget Secretary Amenah Pangandaman, former Speaker Martin Romualdez, and Executive Secretary officials of orchestrating a scheme to funnel billions into infrastructure projects. On Saturday (November 15), Marcos rejected the allegations. “I don’t want to even dignify what he is saying,” Marcos told reporters during a visit to La Castellana, Negros Occidental. Co had released the second and third parts of his tell-all video series on Facebook, claiming that the alleged insertions “went to the President and another person.” In the latest video, Co further alleged that Marcos received ₱25 billion as an SOP, delivered in suitcases to his official residence inside Malacañang. The Palace swiftly dismissed the claims. Presidential Communications Office acting Secretary Dave Gomez said Co’s allegations were “a bunch of hearsay.” Gomez said the administration would not comment further unless Co testifies under oath regarding his alleged involvement in the flood control anomaly. Co left the Philippines in July for medical reasons and has not returned. His travel authority has been revoked by the House. The former lawmaker insists he is being made a “scapegoat” and a “poster boy for lies.”

The alleged P100B insertion order

According to Co, the directive came straight from the President. “I will no longer keep quiet. I will reveal the truth — with receipts, evidence, and names,” he said. Co claimed Pangandaman told him Marcos wanted P100 billion inserted during the bicameral conference committee discussions. This instruction, he said, was confirmed by Undersecretary Adrian Bersamin, who allegedly handed him a brown leather bag containing the list of projects. Co said he immediately informed Romualdez, who allegedly told him: “What the President wants, he gets.” Co said only P50 billion could be safely inserted into the DPWH budget without raising red flags, with the remaining P50 billion to be placed under unprogrammed funds, which he said “the Office of the President controls.”

The brown leather bag—and why it matters

Co made repeated reference to the bag, claiming Marcos himself had once said: “You can lose everything, but not the brown leather bag.” The implication: the bag carried presidential instructions. Unprogrammed funds have long been criticized for their lack of transparency. Co’s testimony suggests that insertions were planned and directed at the highest levels; all budget deletions and insertions were approved by the President; and that top officials coordinated to ensure the budget aligned with political deals. Progressive lawmakers say Co’s revelations confirm systemic corruption at the highest levels. The Makabayan bloc declared Marcos “the chief architect of corruption.” “The President personally approves unprogrammed funds and directly orders billions in budget insertions,” they said. “The buck stops with him.” Liberal Party leaders, labor groups, and organizers of the Trillion Peso March have echoed calls for accountability. Labor leader Sonny Matula warned: “The sitting President may be immune from suit now, but never from impeachment.” Civic leader Kiko Aquino Dee urged Marcos to step back from corruption probes involving DPWH projects and to ensure Co’s safe return to testify.

What happens next

Party-list Representative Leila de Lima said that Co must return to the Philippines to testify under oath so his claims can be formally evaluated, while Marcos critics insist that the President must respond fully, given the scale of the claims. What happens next? Congress may be forced to launch an inquiry, while new evidence from Co may surface. Anti-corruption protests could also intensify in the Philippines, while the impeachment chatter is expected to grow. For now, the nation watches closely as the political crisis deepens — and as Co promises more “receipts” to come. ICA/CAM/Expat Media
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