Dáil Éireann Debate, Thursday - 23 June 2016
15. Deputy Clare Daly asked the Minister for Finance if he has full confidence in the operation of the National Asset Management Agency, particularly following recent developments in relation to those involved with Project Eagle; and if he will make a statement on the matter. [17494/16]
View answerNAMA's continued progress is evident in the recently published 2015 Annual Report and Accounts. NAMA's results highlight the continued achievements of NAMA and the positive impact NAMA is having on Ireland's sustained recovery in carrying out its mandate both in terms of debt redemption, the delivery of the Dublin Docklands SDZ and the commercial funding of residential housing delivery.
NAMA's continued strong performance since inception means that Board now expects to achieve a surplus of up to €2.3bn over its life, subject to market conditions, which will be returned to State.
I commend NAMA on its work to date and I have full confidence in NAMA's Board.
Regarding the Deputy's reference to recent developments - I reiterate that, despite all the confusion and conflation in the coverage of this matter, it remains the case that allegations of wrongdoing have not been directed at NAMA. All known allegations of wrongdoing are currently being investigated by the appropriate authorities. We support these investigations and stand ready to assist in any way that is helpful and should remain careful not to compromise these investigations in any way.
The most notable investigation is being carried out by the UK National Crime Agency a criminal investigation by the appropriate authorities in the appropriate jurisdiction. Importantly, NAMA advises me that the NCA has confirmed that no aspect of the Agency's activities are under investigation.
NAMA also has appeared twice before the Public Accounts Committee to discuss Project Eagle. Based on recent comments of the PAC Chairman, I understand NAMA may soon appear for a third time to discuss these issues. In that context the C&AG is conducting a value for money review of Project Eagle which will be published and discussed in due course. A report such as this should not be rushed and should allow the C&AG the time required to conduct a fair and balanced examination of the issues in forming his opinions.
If appropriate lines of inquiry do arise which could usefully be pursued they will be brought forward for consideration. However, I do not believe that it is appropriate to launch an investigation based purely on speculation.
