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Transparency on NAMA needed: Adams

28 February, 2012 - by Gerry Adams

Speaking in the Dáil during Leaders’ Questions today, Sinn Féin leader, Gerry Adams TD, raised the lack of transparency in the work of NAMA and pointed to senior figures within the agency who were senior members of the banking, financial and property sectors which caused that crisis.
He asked Taoiseach Enda Kenny for promised transparency, meaning that details of all non-performing loans acquired by NAMA would be available for public scrutiny on a public register, including names of creditors and the amounts paid by the taxpayer for loans.
He said 16 companies were identified by NAMA to advise them on loan sales in Europe and the US and that NAMA itself has confirmed that some of its senior management team have close links with those firms.

“The Dáil and the people should know how much NAMA has paid, with taxpayers’ money, for the property it controls,” he added, saying that the agency remains “cloaked in secrecy”, while billions of Euros worth of assets are being sold by NAMA.

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