AFP says it is taking actions on unclosed bank accounts flagged by COA

Published July 14, 2021 10:19am
The Armed Forces of the Philippines (AFP) on Tuesday said it is addressing the issue on 20 unclosed bank accounts that the Commission on Audit (COA) has flagged as unauthorized.
In a statement, the AFP said the 20 bank accounts with book balance of P1,812,797,567.87 are being maintained with several banks.
These accounts are for the AFP Modernization Act Trust Fund-Central Office (AFPMATF), AFP Educational Benefit System Office (AFPEBSO), AFP Real Estate Office (AFPREO), and General Headquarters Central Office (GHQ-CO).
For the AFPMATF, the AFP said three accounts were already authorized by the Permanent Committee and P62,386,689.47 were remitted to the Bureau of Treasury from September 3, 2020 to February 3, 2021.

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