Mr. Frank Daly:

I see Deputy O’Donovan’s point, but I will not rehearse for the committee answers I have given several times before about the formal accountability of NAMA to this House and to this committee, and through our annual reports, quarterly reports and to the Comptroller and Auditor General. That is all on the record.

NAMA has been controversial since the beginning and once the name "NAMA" appears anywhere in connection with a story, it gets the headlines. One of the most effective ways of dealing with very controversial issues for us in the past has been with this committee. Coming in is not always comfortable but that is what we are doing today. I can understand the public might be exercised about NAMA's sales process and whether it got value for money. We have explained the process in absolute detail. We have said why we think we got value for money and that we got the right price. The Comptroller and Auditor General is now going to look at that aspect of it in his triennial review. It goes without saying that every document and piece of analysis will be made available to him. That is all we can do. The conflation in recent days and weeks about this payment in Northern Ireland from a company based in Northern Ireland to an individual in Northern Ireland is not something of which NAMA has any knowledge and with which it has any involvement. There is nothing we can do except keep explaining that. One of the points I made in my earlier statement is that I think that point is not getting across.