Fianna Fáil Finance spokesperson Michael McGrath has called on NAMA to co-operate in full with any judicial or other statutory inquiry in to allegations surrounding the sale of its loan book in Northern Ireland.

Deputy McGrath commented; “The BBC Spotlight programme on Monday evening raised a number of very serious allegations in relation to the activities of a member of the NAMA advisory board in Northern Ireland and the sale process which took place.

“A very significant sum of public money is involved and it is vital that all the facts are ascertained and appropriate action is taken, including if appropriate, criminal prosecution.

“In relation to the previous investigation undertaken by the Stormont Assembly, NAMA took the approach that it was not legally answerable to any inquiry set up outside the jurisdiction. Michael Noonan declined to instruct NAMA to provide oral evidence before the Stormont committee. This is no longer a tenable position. It is vital all that relevant information is provided at the earliest opportunity.

“A question also arises as to whether the individual named in the programme fulfilled all of his obligations in relation to the annual statutory declaration made by NAMA employees and board members. While the focus of any investigation is likely to centre on activities that took place outside the jurisdiction, this issue of the annual declaration must be addressed by the authorities here,” concluded Deputy McGrath.