Zaldy Co Revelation: Marcos 'Ordered' P100B in Budget 'Insertions', Romualdez Told Him 'Stay Out' of PH

After months of silence from overseas, former congressman Elizaldy 'Zaldy' Co has unleashed a political firestorm, breaking his silence in a dramatic video statement that points directly at the highest levels of government.

Co claims he was personally instructed by former House Speaker Martin Romualdez, acting on behalf of President Ferdinand Marcos Jr., to remain overseas and maintain his silence.

Now, alleging he is being set up as a scapegoat, Co is vowing to reveal a complete account of the 2025 budget scandal, promising he has receipts, evidence, and names to back it up.

In a nearly six-minute video posted to his official Facebook account, ominously titled 'Part 1,' Co directly addressed the Filipino people. He acknowledged the intense public anger directed at him but asked that before anyone judges, they should allow him to explain the full truth.

He insisted his extended absence was not an admission of guilt but the result of what he called a direct order he received, which was to not return to the Philippines and to stay quiet.

Zaldy Co Alleges 'Direct Order' to Remain Overseas

Zaldy Co detailed a timeline claiming he left the Philippines on 19 July 2025 for a medical check-up, with the full intention of returning after the President's State of the Nation Address. Those plans were allegedly halted by a phone call from the top.

He claimed that as he was preparing to come back, former Speaker Martin Romualdez called him with instructions to stay out of the country. Romualdez allegedly relayed that Co would be well taken care of, and that this instruction came from the President.

Co explained that at the time, he still believed them, which is why he did not return. He stated that he kept his mouth shut and complied with the directive.

Co's trust, he said, was misplaced. He now claims the promise of protection was a ruse to frame him. He lamented that he did not know the promise to 'take care' of him actually meant he would be used as a scapegoat in their anti-corruption campaign.

He bitterly concluded that they made him the poster boy of their own lies.

Zaldy Co Claims P100B 'Insertion' Was an Unchangeable 'Order'

The former House Appropriations Committee chair then pivoted to the root of the controversy: a P100 billion 'insertion' into the national budget, which he alleges came directly from President Marcos.

According to Co, the controversy began when Budget Secretary Amenah Pangandaman called him at the start of the 2024 bicameral conference to relay the President's instruction. He claims Undersecretary Adrian Bersamin was present and can confirm the order.

Co said that immediately after his conversation with Pangandaman, he called former Speaker Romualdez to report the President's instructions. Romualdez's alleged reply was blunt: whatever the President wants, the President gets.

Co even provided a cinematic detail, claiming Bersamin told him the list of projects came from the President, delivered in a 'brown leather bag.' In his post, Co included an alleged list of these insertions, featuring a P5.4 billion item for the Office of the President, earmarked for the 2026 ASEAN Summit.

He claims he attempted to push back, asking officials if the insertion could be halved to P50 billion. His stated reason was that the full amount would make the Department of Public Works and Highways (DPWH) budget unconstitutionally larger than the education budget.

His request was allegedly rejected. Co said Pangandaman called him the next day, informing him that the President insisted on pursuing the full insertion. The reason given was that the Former Speaker had already promised it. Co added his own interpretation: in other words, the order of the King could not be changed.

The video ended with Co teasing a continuation, expressing a grim hope that he would not be killed before he could reveal the full truth about what happened 'behind the curtain.'