NAMA is being urged to fully co-operate with any judicial or statutory inquiry after the BBC Spotlight programme revealed "serious allegations" surround in the sale of its loan book in Northern Ireland.

Fianna Fáil Finance spokesperson Michael McGrath said it is vital that all of the facts are ascertained.

He said: "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."

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Sinn Féin MLA Daithí McKay said: "NAMA making a complaint to the Standards in Public Office now is like shutting the stable door after the horse has bolted.

"NAMA were aware of concerns about the alleged involvement of Frank Cushnahan in the sale of the northern property portfolio to Pimco more than two years ago.

"However, they choose to proceed with the sale just weeks later to another US vulture fund Cerberus.

"It is clear that a Commission of Investigation is needed to establish the full facts of the events leading to the sale of NAMA's northern loan portfolio."

(CD)