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Stormont committee chief: NAMA probe should go ahead, despite police investigation

The head of the Stormont Finance Committee has said their investigation into the sale of NAMA's N...
Newstalk
Newstalk

09.21 10 Jul 2015


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Stormont committee chief: NAMA...

Stormont committee chief: NAMA probe should go ahead, despite police investigation

Newstalk
Newstalk

09.21 10 Jul 2015


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The head of the Stormont Finance Committee has said their investigation into the sale of NAMA's Northern Ireland portfolio should go ahead, despite a separate criminal investigation.

Yesterday in front of the Public Accounts Committee (PAC), NAMA claimed it got the best possible value from the sale of its Northern Ireland loan book.

The bank also revealed that a former member of its Northern Irish advisory committee, Frank Cushnahan, was in line for a stg£5m (€6.95m) fee from private equity firm Pimco for the Project Eagle portfolio sale.

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However, that deal did not ultimately go through.

The National Crime Agency - Britain's equivalent of the FBI - is to lead the investigation into how money was diverted into an account in the Isle of Man after the controversial sale of NAMA loans in the North.

In the meantime, the Stormont Finance Committee is expected to begin its own investigation in the coming days into issues raised by the sale.

Daithí McKay is Sinn Fein MLA for North Antrim, and chair of the Finance Committee.

He told Newstalk Breakfast they would like to see NAMA come before it.


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