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Assembly NAMA inquiry report raises serious questions for Minister Noonan - Mary Lou McDonald TD

11 March, 2016 - by Mary Lou McDonald TD

Sinn Féin Deputy Leader Mary Lou McDonald TD has called on Finance Minister Michael Noonan to come before the Dáil at its next sitting on 22nd March to answer questions arising from the Northern Assembly’s Inquiry Report into NAMA sale of its Northern Loan Book, which criticises the Minister’s failure to deal properly or transparently with the many serious concerns around the sale.

The Dublin Central TD was speaking from Leinster House this morning where she was joined by the Chairperson of the Assembly Finance Committee, Sinn Féin MLA Daithí McKay.

She said;

“Sinn Féin has been demanding a commission of investigation into the sale of NAMA’s Northern Loan Book for some time now.  This has been strongly resisted by the Minister for Finance Michael Noonan.

“The report by the Northern Assembly’s Finance Committee raises serious questions for the Minister to answer.  It notes serious failures on the part of Michael Noonan and NAMA and questions why they failed to abandon the sales process when another bidder, PIMCO, made a very serious disclosure to them about ‘fixers’ and fee arrangements.

“Minister Noonan must come before the Dáil to answer questions in relation to this matter of serious public concern and to be held accountable for his actions or inactions as the case may be.

“It is also clear that NAMA no longer commands full public trust in acting in the best interests of the taxpayer.  We certainly don’t believe that the taxpayer got value for money in relation to this sale.

“The account given by NAMA Chairman Frank Daly is not credible, does not command public confidence and both he and NAMA have serious questions to answer.” ENDS

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