Nama issues robust defence of €1.6bn Project Eagle sale

The National Asset Management Agency has insisted there was nothing corrupt about the €1.6 billion sale of its Northern Ireland property portfolio.

Nama chairman Frank Daly gave a robust defence of the agency's role in the sale of the loans, dubbed Project Eagle, to US firm Cerberus during an appearance at the Dáil's Public Accounts Committee.

It has been claimed that former Northern Ireland first minister Peter Robinson was one of five people due to benefit from a £7 million "success fee" connected to the deal that was lodged in a bank account in the Isle of Man.

Allegations

Mr Robinson has rejected the claims made at the Stormont finance committee, which is looking into allegations about Project Eagle, as “scurrilous and unfounded” and on Thursday confirmed he would appear before the committee to discuss the matter.

Mr Daly said he and Nama chief executive Brendan McDonagh met the UK's National Crime Agency to discuss claims about Project Eagle but insisted Nama was not under investigation by anybody.

“I stand over the integrity of the sale side of this. I stand over the integrity of the process,” he said. “I stand over that the fact the taxpayer got value for money.” Mr Daly said the allegations around the Project Eagle sale were “vague, implausible and without evidence”.