Former Ako Bicol party-list representative Elizaldy "Zaldy" Co has made explosive allegations against President Ferdinand "Bongbong" Marcos Jr., claiming the chief executive was fully aware of and directly ordered irregularities in the 2025 national budget.
The P100 Billion Presidential Instruction
In a video message posted on social media on Friday, November 14, 2025, Co revealed that President Marcos himself ordered the insertion of P100 billion worth of projects during the bicameral conference process for the 2025 General Appropriations Act.
Co stated that the instruction came directly from Budget Secretary Mina Pangandaman, who called him at the beginning of the bicam process in 2024. "She said they had just finished a meeting with the President and there were instructions to insert P100 billion worth of projects in the bicam," Co recounted.
The former congressman said Secretary Pangandaman directed him to confirm the instruction with Presidential Legislative Liaison Office head Usec. Adrian Bersamin, who was reportedly present in the same meeting with President Marcos.
Brown Leather Bag Connection
Co provided startling details about how the P100 billion project list was delivered, claiming Bersamin showed him the document coming from a distinctive brown leather bag that the President allegedly values highly.
"When Bersamin mentioned the brown leather bag, I remembered an incident in Singapore right after the elections in May 2022," Co explained. "While we were returning to the Philippines from the Hilton Hotel, the Presidential Security Group chased after the brown leather bag, and PBBM said, 'Leave everything behind except the brown leather bag.'"
This detail convinced Co that the instruction genuinely came from the President himself.
Breakdown of the P100 Billion Projects
According to documents provided by Co, the P100 billion insertion was allocated to various agencies with specific amounts:
- P81,082,503,000 for the Department of Public Works and Highways
- P2.8 billion for the Philippine Coconut Authority
- P2 billion each for the National Electrification Administration and National Housing Authority
- P5.405 billion under the Office of the President
- P6.5 billion for the Department of Information and Communications Technology
Political Fallout and Co's Exile
Co revealed that he attempted to modify the insertion by suggesting that P50 billion be placed in unprogrammed funds, since the DPWH budget couldn't exceed the Department of Education's allocation. However, Secretary Pangandaman reportedly called him back with the President's firm message: "Insert this, and it cannot be changed."
The situation escalated when Co, who had left the Philippines on July 19 for a medical check-up, was allegedly prevented from returning by then-House Speaker Martin Romualdez.
"As I was about to return home, Romualdez called me and said, 'Stay out of the country and you will be well taken care of as instructed by the President,'" Co claimed.
Co now believes this was part of a plan to make him the "poster boy" of the administration's anti-corruption campaign while hiding the truth about the budget irregularities.
Contradiction with Public Statements
The former congressman expressed confusion about President Marcos's public statements distancing himself from the budget, noting that all budget additions and cuts to government agencies require approval through Secretary Pangandaman.
"That's why I am surprised that the President says he does not recognize the budget, when in fact all additions and cuts to government agencies require approval from Sec. Mina Pangandaman," Co stated.
These revelations come amid ongoing investigations into anomalous flood control projects that allegedly involved Co and Romualdez receiving billions in kickbacks. President Marcos had ordered an in-depth probe into these projects during his recent State of the Nation Address and formed the Independent Commission on Infrastructure to investigate irregularities in government projects.
As of publication time, President Marcos has not commented on Co's detailed allegations, which include specific names, dates, and documented evidence of the purported budget manipulations.
