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Questions in respect of NAMA’s Project Eagle persist - Adams

19 July, 2016 - by Gerry Adams TD


Sinn Féin President Gerry Adams TD, speaking during Leaders Question in the Dáil this afternoon, has said the Government should commit to establishing a Commission of Investigation into the sale of NAMA’s northern loan book - Project Eagle - without delay, and that the series of serious allegations made in relation to it are not going away. 

Teachta Adams said:

“Three weeks ago there was a motion before the Dáil calling for the establishment of a Commission of Investigation in the sale of NAMA’s Northern loan book - Project Eagle - and the Government and Fianna Fáil blocked it from proceeding. It was claimed that the allegations relating to the sale of Project Eagle had nothing to do with NAMA as an entity.

“Yet it has emerged in the last week that the NAMA Chairman, Mr. Frank Daly, wrote to the Standards in Public Office Commission in March to say that a member of NAMA’s advisory board in the north might have contravened the Ethics in Public Office Act whilst serving on the board.

“Mr. Daly’s letter to SIPO rubbishes the notion that allegations surrounding the sale of Project Eagle had nothing to do with NAMA and they should explain why they waited until March 2016 to write to SIPO when they were aware in March 2014 - two years beforehand - of some of issues involved.

“There are serious allegations of financial corruption and insider trading alleged, yet, they are not being investigated in this State.

“There are ongoing investigations in the north by various authorities. There was the Assembly Enquiry, which found the Government’s approach very unhelpful. There are also investigations ongoing in the USA. An investigation here would not prejudice any of these investigations. 

“The Government is proposing a new template in relation to the IBRC Commission, which Sinn Féin supports, and the bespoke Commission they are proposing would also work in relation to an inquiry into Project Eagle The Government also resisted an investigation into IBRC at the time.  My appeal is that they would establish another into NAMA as soon as possible.” 

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