The Government is being urged to set up a Commission of Investigation into the activities of NAMA.

Sinn Féin President Gerry Adams TD accused the Finance Minister Michael Noonan of protecting NAMA from public scrutiny.

Mr Adams said: "NAMA had previously claimed that their northern advisory committee was not privy to confidential or useful information regarding the sale of their loan book. However it is now reported that the NAMA committee discussed potential purchasers on two occasions that we know of before the loan book was sold at a loss to the taxpayer of several billion euro. Frank Cushnahan, who later acted as an advisor to one of the bidders in the sale of the northern NAMA loan book was present at these meetings.

-- Advertisement --

"The sale of this loan book at a huge discount has impacted on tax payers in the south and the economy of the north. Yet NAMA continue to refuse to attend the Assembly Finance Committee."

(CD)