Enda Kenny (Mayo, Fine Gael) | Oireachtas source

It is not the first time Deputy Wallace has raised a matter in respect of NAMA, which is a matter of public interest. As I said before on quite a number of occasions, the advice given to me by the authorities is that this loan portfolio was sold following an open process to the highest bidder.

On the questions of allegations against certain individuals in Northern Ireland, NAMA paid no moneys to any party on this loan sale against whom allegations of wrongdoing are now being made and, as I said before, if somebody has evidence, they should bring that to the authorities.

I am also aware that two individuals that the Deputy mentioned were held for questioning in respect of the UK National Crime Agency, NCA, investigation into the Northern Ireland assets owned by NAMA and I am advised that the NCA has confirmed to NAMA that no aspect of the agency's activities are under investigation. I welcomed this previously, as did the Minister for Finance. These allegations are serious and, clearly, they have to be, and are being, investigated in that jurisdiction. Taking into account the investigations that are under way, the Minister for Finance has a view that no specific line of inquiry here can stand up and be usefully pursued by a commission of investigation. Many allegations have been made. The appropriate investigations are already taking place in the appropriate jurisdictions and it would be unwise to launch a very costly commission of investigation on claims that are currently under investigation by the authorities.

The Deputy mentioned before the issue that he raised. These are specific allegations of wrongdoing. If there are ones that are not being investigated, obviously they should be brought to the attention of the Garda and the authorities. If this is an issue that is appropriate to a commission of investigation, we need more details on what the Deputy has there and in the absence of such specific allegations, it is right and proper that the appropriate authorities should have the time and space required to complete their investigations.

The Deputy has raised the issue of the Garda station in Harcourt Street. I am aware of the situation there in so far as their being asked to move out is concerned. I think there is an objection lodged to that. Obviously, investigations, as I said, are going on in the Northern Ireland jurisdiction as well.

The Comptroller and Auditor General is required, under section 226 of the NAMA Act, to produce a report every three years - that office is a completely independent body - assessing the extent to which NAMA has made progress towards achieving its overall objective. NAMA and the Comptroller and Auditor General appeared before the Committee of Public Accounts on 9 July last year. At that appearance the Comptroller and Auditor General indicated that his next section 226 report would look in detail at a sample of NAMA disposals and a sample of properties held by it for investment and, furthermore, that a specific review of Project Eagle, under section 9 of the Comptroller and Auditor General Act, would be undertaken. That is under way. I do not know when it will be published but I understand quite a good deal of work has been done on it.

See this speech in context