Oireachtas Joint and Select Committees

Thursday, 30 September 2021

Public Accounts Committee

NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General

9:30 am

Photo of Matt CarthyMatt Carthy (Cavan-Monaghan, Sinn Fein) | Oireachtas source

I take this opportunity to return to work this committee did following our engagement with NAMA with regard to the Project Nantes loan portfolio, which resulted, according to our findings, in a loss of approximately €10 million to the taxpayer. Following our previous engagements, the NAMA board, essentially, refused to accept the figures or engage with us, and put all this down to a miscalculation. I asked at our previous engagement whether NAMA could confirm that no other such miscalculation had emerged with regard to the disposal of portfolios and that confirmation could not be provided at the time. I presume NAMA has since examined the figures further. Can it now confirm whether any other, similar miscalculations took place in the context of disposals?

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