Lisbon, May 6, 2026 (Lusa) - Portugal's PSD, CDS-PP, Chega, IL centre-right political parties and the PS (Socialist Party) approved a request on Wednesday for parliament to hear the central bank (BdP) governor, Alvaro Santos Pereira, regarding company share purchases made while leading the institution.
The Budget, Finance and Public Administration Committee (COFAP) unanimously gave the green light to the request during Wednesday's meeting.
Chega requested the hearing after the newspaper Público reported on 27 April that the current head of BdP purchased shares while in office.
Santos Pereira, who has led the central bank since 6 October 2025, purchased shares in Jerónimo Martins, Galp Energia, Nestlé, and The Navigator Company between December 2025 and January 2026.
The European Central Bank (ECB) subsequently forced him to sell these shares.
In a declaration of interests submitted to the ECB on 12 January, the governor stated he acquired shares in the two Portuguese companies (Jerónimo Martins and Galp Energia) in December 2025.
He bought shares in Jerónimo Martins on 29 December and Galp on 17 and 29 December.
The governor acknowledged two days after the newspaper report that he also purchased Nestlé and The Navigator Company shares in January 2026 and increased his holdings in Galp and Jerónimo Martins.
Chega MP Eduardo Teixeira said during the debate that parliament was the appropriate place for clarifications due to the sensitivity of the issue. He noted the BdP must follow conduct rules to ensure the institution's independence and credibility.
"We do not want to condemn or praise the conduct, but clarify it," the MP said.
PSD MP Hugo Carneiro called for "respect and elevation" rather than "petty political tactics".
PS MP Antonio Mendonca Mendes said his party would vote in favour, despite doubts over whether parliament should scrutinise a regulatory matter already handled by the ECB and stated the hearing should also cover central bank reserve management.
Chega rejected widening the scope, keeping the focus on the governor's investments.
IL MP Mario Amorim Lopes said that although Santos Pereira had already provided explanations, it makes sense for parliament to hear him about the detected irregularity.
CDS-PP leader Paulo Núncio said his party backed the request because it concerns transparency and the BdP’s reputation, which must remain intact.
The code of conduct for eurozone central bank officials limits, but does not prohibit, the acquisition of private company shares. Consequently, the ECB analysed the matter and forced Santos Pereira to sell the stock.
In a statement published on the BdP’s website on 29 April, Santos Pereira said he had "promptly reported these financial transactions to the ECB," noting that they involved entities not supervised by the BdP and that he disclosed them as part of his annual declaration of interests in early 2026.
Santos Pereira added he gave "all details regarding his assets to the Transparency Entity" on 15 January.
On 1 April, the ECB ethics committee told the governor that acquiring shares, even in non-financial companies, was not possible and he must sell them by 30 June 2026.
Santos Pereira completed the regularisation process and "decided to donate the profits from the sale to a social responsibility institution," the statement said.
PCT/LYT //
Lusa
