August 18, 2017: *** The National Grid Corp. of the Philippines (NGCP) is now faced with the problem of looking for usable areas to hold transmission lines that would link the power barge in Tapal Wharf in Ubay town to a substation in Barangay Emelda of the same town. ***The City Government of Tagbilaran is set to sign a memorandum of agreement with BFAR for a multi-million peso livelihood project intended to uplift the living conditions of the fisherfolk. ***47th Infantry Battalion Commanding Officer, Lt. Col. Joel Malig said units under him are currently undergoing intensified intelligence operations along with other allied units to confirm the reports on sightings of armed men in Bohol. *** LGU Pilar's program, "Productivity Improvement thru landcare and Agriculture Resource Development and Management"(Pilar Dam) landed in the top 20 in Taking Look 2017. *** LGU Panglao got third place (3rd-6th class municipalities) in Infrastructure during the 5th Regional Competitiveness Summit held at PICC recently. ***LGU Panglao's entry program "A Purok-Based Approach in Basic Education Reforms/Turo-Turismo: Strengthening Partnership and Industry Linkage for Effective K-12 Implementation is among the 20 finalist of the Galing Pook Awards 2017. ***The towns of Panglao and Pilar are among the 20 finalists in the yearly search for Galing Pook Awards 2017. *** The National Food Authority in Bohol said prices of rice in the province have been on an uptrend since last week reaching an increase of up to P5 per kilo. *** A man listed in the Bohol Provincial Police Office drug watch list was caught last night with drugs weighed 80 grams with estimated street value of P993,000.

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Thursday, December 15, 2016

BSP reminds info officers on Dec. 31 deadline to swap old paper bills

TAGBILARAN CITY, December 15 (PIA)--The Bangko Sentral ng Pilipinas (BSP) reminded the information officers of the local government units and national government agencies about the December 31, 2016 deadline to swap holdings of New Design Series (NDS) paper bills.

During the general assembly meeting of the Association of United Development Information Officers in Bohol (AUDIO-Bohol) recently hosted by BSP, Bank Officer Hazel Cultura said the old NDS banknotes launched in 1985 will fully lose monetary value starting Jan. 1, 2017.

Cultura added that under Section 57 of Republic Act (RA) No. 7653 or the New Central Bank Act, the BSP may replace notes of any series that are more than five years old and coins that are more than 10 years old.

The BSP defines demonetization as “the process of removing the monetary value of a legal tender currency by the issuing authority.”
However, Cultura clarified that only paper bills are included in the latest demonetization.

She said holders of NDS can still exchange NDS paper bills at face value in banks, the Cash Department of the BSP and the various BSP offices nationwide.

For NDS notes that are subject of court cases, it can be exchanged within six months after the corresponding legal cases have been terminated.

Clerks of Courts and law enforcement agencies were given an extension to swap their NDS from end of December 2016 to January 31, 2017.

Meanwhile, for overseas Filipino workers (OFWs), they are also allowed to swap their NDS holdings outside of the period given to the public.

OFWs are required to register their NDS holdings with the central bank through online application at https://orbs.bsp.gov.ph that started last October 1. The NDS holdings can be swapped within a year after the registration.

OFWs are allowed to swap up to P50,000 worth of NDS holdings in line with the 11th foreign exchange liberalization of the central bank.

“For those who are situated in war torn countries, the deadline for exchange is extended to 31 December 2017. There is no need for them to register,” Cultura said. (ecb/PIA7-Bohol)

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