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Commission of investigation into NAMA sale of northern loan book should be first item on today’ cabinet agenda - Gerry Adams TD

1 March, 2016 - by Gerry Adams TD


In light of further revelations regarding the sale of NAMA's northern loan book, "Project Eagle", Sinn Féin Leader Gerry Adams TD has said a Commission of Investigation into this sale should be the first item on today’s cabinet agenda.

The Sinn Féin leader has also said that Sinn Féin has submitted a motion for the 32nd Dáil to deal with this scandal as a matter of urgency.

Gerry Adams said:

"Michael Noonan, Enda Kenny and Joan Burton repeatedly refused to recognise mounting public concern, North and South, surrounding the sales process by the National Asset Management Agency of its northern loan book - Project Eagle.

"This is despite myself and other TDs publicly and repeatedly challenging them to do so.

"The taxpayer did not get best value for money from the sale of Project Eagle to a US vulture fund at a huge discount. 

"It is a matter of deep concern that NAMA and Minister Michael Noonan failed to abandon the flawed sales process when another bidder, PIMCO, made a very serious disclosures to them about ‘fixers’ and fee arrangements.

"It is extraordinary that Michael Noonan failed to inform the northern Executive of these disclosures.

"Sinn Féin is again demanding an independent Commission of Investigation to examine the damning allegations of insider trading and political cronyism.

“This should be the first item on today’s cabinet agenda.

"There has been zero accountability from the outgoing Government on this issue and again, the taxpayer is left to shoulder the cost.

“Sinn Féin has submitted a motion for the 32nd Dáil to deal with this scandal as a matter of urgency. It is in the public interest that this motion is tabled for debate at the earliest opportunity.”

ENDS

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