Bangko Sentral ng Pilipinas

BSP helps man recover P50,000 in life savings eaten by termites

Ralf Rivas
BSP helps man recover P50,000 in life savings eaten by termites

SAVINGS BACK. Adonis Buemia gets his mutilated bills replaced.

Bangko Sentral ng Pilipinas/GMA

A 70-year-old delivery man recovers P50,000 after the Bangko Sentral ng Pilipinas found that the termite-mutilated bills were eligible for replacement

A 70-year-old man whose life savings were eaten by termites got his money back after the Bangko Sentral ng Pilipinas (BSP) replaced the severely mutilated bills.

Adonis Buemia, who has been delivering ice for 30 years, got back his P50,000 after the BSP did an evaluation and concluded that the bills were eligible for replacement.

Buemia initially sought help from GMA public affairs program Kapuso Mo, Jessica Soho, which then referred the case to the BSP. 

“Masayang-masaya talaga ako at napalitan na at naibalik nang buo ang ipon ko. Maraming salamat sa bangko na tinanggap nila ‘yung pera. At maraming salamat sa Bangko Sentral sa lahat ng tulong para mapalitan ‘yung pera ko,” Buemia said.

(I’m very happy that my money was replaced and returned to me in full. Thank you very much to the bank for accepting my money. And thank you so much to the Bangko Sentral for all your help in replacing my money.)

Buemia earns P300 daily, said the central bank. He had kept his savings inside a cabinet in his home.

For replacement of dilapidated bills, these are the BSP’s regulations:

  • The size of the remaining bill should be 60% or three-fifths of the original size of the bill.
  • A portion of any of the two facsimile signatures must still be seen.
  • The windowed security thread must remain intact unless otherwise caused by fire, insect, or any form of unintentional mutilation.

To avoid damage caused by termites, water, and other elements, the BSP encouraged the public to keep their savings in BSP-supervised financial institutions like banks where they will be secure. – Rappler.com

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.