(UPDATE) A GROUP made up of retired military officers on Sunday said President Ferdinand Marcos Jr. must resign if he fails to fully address allegations of corruption and budgetary irregularities raised by former congressman Zaldy Co.
In a statement, the United People’s Initiative (UPI) said Co’s revelations “have shaken the already fragile trust in the national leadership,” stressing the integrity of the national budget, the exercise of public office, and the president’s moral responsibility to safeguard public funds.
On Sunday, the group led an anti-corruption rally at the EDSA People Power Monument in Quezon City.
“These allegations strike at the heart of governance,” the group said. “In a time of economic uncertainty — marked by a weakening peso, a volatile stock market, and declining investor confidence — our institutions cannot afford ambiguity, silence, or evasions. The Filipino people deserve clarity, transparency, and truth.”
UPI stressed that public trust forms “the foundation of national stability,” warning that its erosion reverberates across all sectors of society. “When that trust is weakened, every sector of society feels the tremors,” the statement read.
The organization urged the president to order a “full, independent, and transparent investigation” into the corruption allegations raised by Co, including the immediate release of all documents, communications, and records related to budget allocations, insertions, and fund flows. UPI also demanded that investigators and the public be given unrestricted access to the truth.
It also issued a conditional ultimatum: if the president fails to satisfactorily address the allegations with honesty, transparency, and verifiable accountability within a “reasonable and clearly defined period,” he must resign.
The allegations at the center of the controversy involve claims that President Marcos, his cousin and former House speaker Martin Romualdez, and several Cabinet officials orchestrated “insertions” worth P100 billion in the 2025 national budget.
In a series of videos, Co alleged that the scheme began last year when Budget Secretary Amenah Pangandaman instructed him during the bicameral conference committee (bicam) budget process to insert P100 billion worth of projects.
Co said he confirmed the instruction with Undersecretary Adrian Bersamin of the Presidential Legislative Liaison Office. He claimed he relayed the instruction to Romualdez, who allegedly told him, “What the president wants, he gets.”
A few days later, Co said Bersamin presented a list of projects totaling P100 billion, which Co alleged came directly from Marcos and was kept in a brown leather bag.
He said the insertion was eventually reduced to P50 billion for programmed funds, with the remainder allocated to unprogrammed funds under the Office of the President.
Co said he complied with the orders despite concerns that the Department of Public Works and Highways (DPWH) budget could exceed that of the Department of Education, which he said would violate the Constitution.
On Sunday, Co released what he said was the final installment of his video disclosures, challenging Ombudsman Jesus Crispin Remulla to investigate President Marcos and Romualdez.
Co said Remulla must prove he is serious about earlier statements promising that anyone implicated in corruption, including Romualdez, would be investigated if evidence was presented.
“Prove your pronouncement,” Co said. “Investigate the fraternity brother and friend, Speaker Martin Romualdez…. Investigate also President ‘Bongbong’ Marcos.”
He said he was ready to submit receipts, documents, and lists of projects that were allegedly inserted into the national budget under instructions from senior officials.
Co alleged that Romualdez directed him to accommodate “P100 billion worth of projects” in the budget, insisting that he merely followed orders. He also claimed he had been threatened since March 2025, including a warning that “he will shoot me if I talk.”
Co said Romualdez later told him not to return to the Philippines because “they might hire someone to do a rub-out to me or hire the police to kill me while in jail.”
Co claimed that the administration used “the entire resources of the country” to silence and discredit him.
He also accused the administration of misrepresenting the funds involved in the controversial Infrastructure Consolidation and Intensification (ICI) effort.
Co said that while documents indicated P21 billion linked to the so-called “DP Village boys,” the actual amount given was P56 billion — “all of which went to President Bongbong Marcos and Speaker Martin Romualdez.”
He maintained he did not benefit from the insertions. “None of the money went to me. The funds only passed through me to be delivered to Speaker Martin Romualdez and President Bongbong Marcos,” he said.
Despite the controversies surrounding Co, including alleged irregularities in flood control projects benefiting construction firms linked to his family, UPI emphasized that the call for accountability remains focused on the president and the integrity of the national budget.
“The stability of the nation is at stake,” UPI said. “Unresolved doubts over leadership and public trust could have profound economic and social consequences.” The organization reiterated the urgent need for transparency, decisive action, and full accountability to preserve public confidence in government institutions.
