Oireachtas Joint and Select Committees

Thursday, 10 November 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

9:00 am

Photo of Catherine ConnollyCatherine Connolly (Galway West, Independent)
Link to this: Individually | In context | Oireachtas source

There is a point to this. It is that they are remarkably similar. I will finish on this. If we look at the paragraph on page ten of Ms Nolan's opening statement, the Minister made the exact same point in his opening statement. Ms Nolan said: "Suggestions that the Minister for Finance should have interfered with NAMA’s commercial decision and called a halt to the board-approved sales process fundamentally misunderstands NAMA’s independent mandate and the role of the Minister for Finance." That phrase, "fundamentally misunderstands", was also used by the Minister. She said that the Minister could have absolutely no role. I do not believe that because in this case there are serious concerns about a success fee with a figure of £15 million or £16 million, with part of that paid to a person who is on an advisory committee, as well as all of the other issues. Certainly, the Minister could have a role in that.