Palace Studies ICI’s Landslide Report: P24.7 Billion Seized in Flood Control Probe
In a significant milestone for the Marcos administration’s anti-corruption campaign, Malacañang confirmed on February 9, 2026, that it is now formally reviewing the 125-day accomplishment report submitted by the Independent Commission for Infrastructure (ICI). The report, which details the findings of the "superbody" created to probe the multi-billion peso flood control scandal, is currently under the study of the Office of the Executive Secretary.
At the GME Academy, we view this development as a critical fundamental driver for the Philippine market. The recovery of nearly P25 billion in assets and the potential prosecution of high-ranking officials represent a "cleansing" of the national infrastructure budget—a move that could significantly improve the Philippines’ credit outlook and the long-term stability of the Philippine Peso (PHP).
1. The ICI Report: A Breakdown of "Measurable Results"
Despite operating with what it called "limited manpower and resources" following the resignation of several members, the commission, led by retired Supreme Court Justice Andres Reyes Jr., delivered a massive blow to alleged "ghost project" syndicates.
The ICI’s 125-Day Milestone (Sept. 15, 2025 – Jan. 18, 2026):
Asset Recovery: An estimated P24.7 billion in assets have been seized, preserved, or frozen.
Bank Accounts: Through coordination with the AMLC, 6,692 bank accounts linked to the probe were subjected to freeze orders.
Referrals for Prosecution: The commission has filed nine referrals with the Office of the Ombudsman involving 65 individuals.
Immigration Watch: Another 66 individuals have been referred to the Department of Justice (DOJ) for the issuance of Immigration Lookout Bulletin Orders (ILBO).
2. High-Profile Targets and Legislative Impact
The probe did not shy away from the halls of power. The ICI conducted 32 hearings involving 36 witnesses, including:
7 Senators
13 Members of the House of Representatives
5 Agency Heads
By processing 1,173 documents and conducting 16 nationwide site inspections, the ICI has provided the "teeth" that previous administrative probes lacked. This transparency is a key reason why the Supreme Court recently dismissed petitions questioning the ICI’s constitutionality, affirming President Marcos’s authority to create such a fact-finding body under Executive Order No. 94.
3. The Future of the Commission
With the report now in Malacañang’s hands, President Ferdinand R. Marcos Jr. must decide whether to dismantle the panel or appoint new commissioners to see the cases through. The President previously indicated that the commission’s work was "coming towards the end," but the sheer volume of assets seized may necessitate a permanent "infrastructure watchdog."
The GME Academy Analysis: "Integrity as an Asset Class"
For Forex Trading for Beginners, it is vital to understand that "political risk" is often tied to "corruption risk." When a government proves it can recover stolen funds and prosecute its own, international investors gain confidence.
Why this matters for your trades:
Infrastructure Bonds: If the P350 billion allocated for flood control is finally spent efficiently, the resulting infrastructure boom will drive GDP growth.
PHP Strength: Effective anti-corruption measures reduce the "risk premium" on the Philippine Peso, making it a more attractive destination for foreign direct investment (FDI).
The "Transparency Premium": We expect the Philippine Stock Exchange (PSEi) to respond positively as "leaking" public funds are redirected toward priority sectors like health and agriculture.
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Is the Philippine Peso a "Buy" on the back of these anti-corruption wins? Learn how to trade "Governance Signals" and use fundamental analysis to stay ahead of the curve.
