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Minister needs to come clean on NAMA - Adams

19 August, 2015 - by Gerry Adams TD


Sinn Féin President Gerry Adams TD has said that; “media reports confirming that former banker Frank Cushnahan was present when NAMA’s advisory committee held two meetings at which potential bidders were discussed, have reinforced the need for the government to establish a Commission of Investigation into the activities of NAMA”.

Gerry Adams said,

“Every week we have new disclosures with regard to the selling of the NAMA loan book in the north and yet Minister Noonan continues to protect NAMA from public scrutiny.

“NAMA had previously claimed that their northern advisory committee was not privy to confidential or useful information regarding the sale of their loan book. However it is now reported that the NAMA committee discussed potential purchasers on two occasions that we know of before the loan book was sold at a loss to the taxpayer of several billion euro. Frank Cushnahan, who later acted as an advisor to one of the bidders in the sale of the northern NAMA loan book was present at these meetings.

“The sale of this loan book at a huge discount has impacted on tax payers in the south and the economy of the north. Yet NAMA continue to refuse to attend the Assembly Finance Committee.

”It is time for Minister Noonan to act and for NAMA to be open and transparent about its actions and how it has managed public funds and assets north and south. The minister must use his considerable influence to ensure that NAMA fully co-operate with the Finance Committee at the Assembly.”

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