Lorraine Higgins (Labour) | Oireachtas source

I thank the Minister of State, Deputy White for coming into the House this evening, but I am a little disappointed that the Minister for Finance is not here, given that the issue I raise on the Adjournment is a matter of national importance and of particular concern and interest to the taxpayer. This matter relates to the recent revelations regarding a former employee of NAMA who secured employment in the private sector immediately following his employment with NAMA.

I raised with the Minister for Finance in the House a related issue, relating to the lack of a proper non-compete clause in employment contracts with the agency. The lack of such a clause leaves the taxpayer unprotected. I am concerned about the fact that, in Ireland, there is a record of financial institutions having no morals or scruples in dealing with their customers and the taxpayer. I highlighted some of the terrible treatment that Irish customers of Ulster Bank faced last year. We also have evidence of the widespread mis-selling of financial products. We are now also privy to the tapes of conversations between executive of the former Anglo Irish Bank.

I am particularly concerned by a situation relating to the individual in question, which was raised with me last week. I received damning information that the same individual had communication with third parties in respect of a customer's business with NAMA, which possibly contravene sections of the Data Protection Act, the Official Secrets Act, the National Asset Management Agency Act, the National Treasury Management Agency Act, and which may be prejudicial to NAMA's customer in question. The information can be substantiated and confirms to me that there has been continual and ongoing communication between a Paul Hennigan and a third party in respect of a customer's business affairs in NAMA.