CLARK FREEPORT – Sen. Francis “Chiz” Escudero’s former presidential cam-paign manager Angelito Banayo urged here a probe on the alleged involvement of Nacionalista Party (NP) presidential bet Sen. Manuel Villar in an allegedly anomalous P1.5- billion loan obtained by his bank from Bangko Sentral ng Pilipinas (BSP) sometime in 1999.
In an open forum after his speech in a seminar for journalists sponsored over the weekend by the Philippine Center for Investigative Journalism (PCIJ), Banayo said there are documents still with the Senate to substantiate reports that some 470 hectares of land used by Villar’s Capitol Bank to pay its P1.5-billion loan to the BSP were riddled with anomalies.
“The Capitol Bank was facing a bank run in 1998 so they (Villars) got an infusion of liquidity from the BSP for a loan of P1.5 billion payable in six months reflected in a promissory note,” he said. Villar’s wife Cynthia, he noted, signed the documents on this.
Banayo noted that not even a senator could obtain such amount without endorsement from the President who was, at that time, Joseph Estrada.
“After six months, Capitol Bank did not pay but instead issued to the BSP some 5,000 land titles covering 470 hectares in Norzagaray, Bulacan and BSP accepted this as partial payment,” he said.
Banayo noted, however, that the zonal value of the 470 hectares at that time was only about P270 million.
“That’s bad enough. Worse, when the BSP tried to put under its name the land titles, it was found out from the Register of Deeds of Malolos, Bulacan that the titles were fake since they were based on original titles issued in July 1944 ,” he said.
Banayo recalled that during the Philippine Commonwealth period after World War II, Pres. Sergio Osmena declared that all titles done during the Japanese regime, which included those issued in 1944, as null and void.
He also said it was later discovered that the 470 hectares had already been awarded to 230 farmers by former Pres. Diosdado Macapagal after he instituted land reform in the country.
Banayo said that the report on the Capitol Bank’s transaction with the BSP initially erupted when Villar was Speaker of the House where his wife later became a congresswoman.
“Any probe on this should be in the House and not in the Senate, but the Senate has the documents,” he said.
Banayo said that Villar’s rivals in the presidential race could bring up this issue especially during the campaign period, as he noted “there are public records” to substantiate the report.
“I myself have documents from the BSP,” he added.
Banayo also said that the BSP should be “made to explain” why it accepted titles to lands with zonal value of only P270 million for a P1.5 billion loan.”
In an open forum after his speech in a seminar for journalists sponsored over the weekend by the Philippine Center for Investigative Journalism (PCIJ), Banayo said there are documents still with the Senate to substantiate reports that some 470 hectares of land used by Villar’s Capitol Bank to pay its P1.5-billion loan to the BSP were riddled with anomalies.
“The Capitol Bank was facing a bank run in 1998 so they (Villars) got an infusion of liquidity from the BSP for a loan of P1.5 billion payable in six months reflected in a promissory note,” he said. Villar’s wife Cynthia, he noted, signed the documents on this.
Banayo noted that not even a senator could obtain such amount without endorsement from the President who was, at that time, Joseph Estrada.
“After six months, Capitol Bank did not pay but instead issued to the BSP some 5,000 land titles covering 470 hectares in Norzagaray, Bulacan and BSP accepted this as partial payment,” he said.
Banayo noted, however, that the zonal value of the 470 hectares at that time was only about P270 million.
“That’s bad enough. Worse, when the BSP tried to put under its name the land titles, it was found out from the Register of Deeds of Malolos, Bulacan that the titles were fake since they were based on original titles issued in July 1944 ,” he said.
Banayo recalled that during the Philippine Commonwealth period after World War II, Pres. Sergio Osmena declared that all titles done during the Japanese regime, which included those issued in 1944, as null and void.
He also said it was later discovered that the 470 hectares had already been awarded to 230 farmers by former Pres. Diosdado Macapagal after he instituted land reform in the country.
Banayo said that the report on the Capitol Bank’s transaction with the BSP initially erupted when Villar was Speaker of the House where his wife later became a congresswoman.
“Any probe on this should be in the House and not in the Senate, but the Senate has the documents,” he said.
Banayo said that Villar’s rivals in the presidential race could bring up this issue especially during the campaign period, as he noted “there are public records” to substantiate the report.
“I myself have documents from the BSP,” he added.
Banayo also said that the BSP should be “made to explain” why it accepted titles to lands with zonal value of only P270 million for a P1.5 billion loan.”
