Finance Minister Accused Of Failing To Assist NAMA Inquiry

Sinn Féin leader, Gerry Adams TD, has hit out at Minister for Finance Michael Noonan, over his failure to NAMA cooperates with an inquiry into the sale of its northern loan portfolio.

On Wednesday, the Stormont Finance Committee agreed in principle to use its powers of compellability to get officials at NAMA to attend the inquiry.

In a statement, Mr Adams said: "NAMA has been shrouded in secrecy since it's inception. Minister for Finance Michael Noonan himself has serious questions to answer in relation to the sale of the northern loan portfolio.


"The Government was dragged reluctantly into establishing a Commission of Investigation into IBRC. There is now mounting unease at the activities and governance of NAMA which is in wind-up mode and Minister Noonan has failed to address these concerns.

"These are matters of major public interest involving vast sums of public money. So far Minister Noonan has refused to bring his influence to bear on NAMA to co-operate fully with the inquiry in the North... I would urge him to do so immediately."

NAMA sold its Northern Ireland portfolio to US investment firm Cerberus in 2014 for a fraction of its cost. Earlier this year, Independent TD Mick Wallace alleged in the Dáil that £7m was discovered in an Isle of Man-based account that was linked to the deal and "reportedly earmarked for a Northern Ireland politician or political party."

(JP)