Marcos Fact Checks

FACT CHECK: BSP won’t replace Aquinos’ faces with Santiago, Marcos in P500 bill

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FACT CHECK: BSP won’t replace Aquinos’ faces with Santiago, Marcos in P500 bill
The Bangko Sentral ng Pilipinas has not made any statement about a redesign of the P500 bill

Claim: The faces of former senator Benigno “Ninoy” Simeon Aquino Jr. and former Philippine president Corazon “Cory” Aquino will be removed from the design of the P500 bill.

The video also says that both Aquinos’ faces will be replaced by the faces of former senator Miriam Defensor Santiago and former president Ferdinand E. Marcos.

Rating: FALSE

Why we fact-checked this: The YouTube video containing the claim has over 6,100 views as of writing.  

No statement from BSP: There are no announcements on the Bangko Sentral ng Pilipinas’ (BSP) official Facebook and Twitter pages about either the removal of the Aquinos’ faces in the design of the P500 bill or about redesigning the said bill.

A big decision like redesigning a bill is usually announced by the country’s central bank, just like what it did during the introduction of a new design of the P1,000 bill.

During the introduction of a new design of the P1,000 bill, then-BSP governor Benjamin Diokno said there were still no discussions about replacing Ninoy and Cory in the P500 bill.

On December 7, 2022, BSP presented to President Ferdinand Marcos Jr. the new P1,000 polymer banknote and the new banknotes bearing Marcos’ signature. The topic of redesigning the P500 bill was not discussed at the said event.

Likely to be replaced with plants, animals: Although there is no announcement about redesigning the P500 bill or any other banknote, the next design of these banknotes will likely feature plants and animals.

Diokno said during the introduction of the new design of the P1,000 bill that “the new series will focus on fauna and flora in the Philippines.” 

Previously fact-checked: Similar claims about the alleged new design of the P500 bill have been fact-checked by Rappler,, PressONE.PH, and ABS-CBN  in the past. – Lorenz Pasion/

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