COA: PCGG recovered, sequestered assets deteriorating; taken over by informal settlers

The Presidential Commission on Good Government (PCGG) had failed to preserve the P581.3 million recovered, surrendered and sequestered assets which have deteriorated and occupied by informal settlers as of Dec. 31, 2024.

- By CZARINA NICOLE ONG KI

In its 2024 annual audit report, the Commission on Audit (COA) said the PCGG has the power to sequester or claim control over any building or office wherein ill-gotten wealth or properties may be found.

After which, the proceeds from the sale of assets by the PCGG should be deposited with the National Treasury, it said.

In its report, the COA said that the PCGG was allotted P23,521,721.69 for the preservation of recovered, surrendered, and sequestered assets.

But for the past years, the COA noted that the budget allocations have primarily been spent on legal services and payment of taxes, insurance premiums, and other fees.