SDLP says report on Nama dealings ‘raises serious questions’

The SDLP has said the publication of the Comptroller and Auditor General (C&AG) report into Nama’s Project Eagle property dealings “raises serious questions” about the sale.

The report said the £1.3 billion (€1.5 billion) price tag “involved a significant probable loss of value to the State of up to £190 million”.

SDLP leader Colum Eastwood welcomed an Irish Government commitment to set up an investigation into Northern Ireland’s biggest and most controversial property deal.

“The Comptroller and Auditor General’s report raises very serious questions about the restrictive nature of the Project Eagle sale process, an apparent lack of competitiveness and the effect that this had on the price achievable for the public purse,” he said.

“There are also serious concerns about oversight.”

Mr Eastwood said the issue “demands a political consensus on the way forward because it’s bigger than any one party or any one jurisdiction”.

Taoiseach Enda Kenny is due to discuss the proposed investigation with Opposition party leaders next week.

UK directive

However, DUP MLA Emma Pengelly said the Finance Committee in Northern Ireland, had received guidance from the UK’s National Crime Agency “not to proceed with an investigation until their work has concluded”.

“The issue is subjudice and no one should do anything which might undermine those efforts to uncover the truth.

“Any actions taken by the Irish Government in relation to their responsibilities are entirely a matter for them to decide upon.”

The Ulster Unionist Party believes the C&AG report highlights how “pitifully slow” Stormont’s response has been in responding to allegations surrounding the deal.

UUP MLA Philip Smith said: “What little credibility the Northern Ireland Assembly has left to investigate this matter is now rapidly draining away.”

Sinn Féin president Gerry Adams suggested revelations by the BBC Spotlight programme and the C&AG report appear to support his party’s concerns about the loss of millions of taxpayer money.

On Wednesday the Stormont finance committee debated a possible invitation from Dáil counterparts to co-operate on Nama questions and decided it will not respond until an invite is issued.

Alliance MLA Dr Stephen Farry: “This is a welcome move to help establish what went on . . . the Border cannot be allowed to prevent a full investigation into all allegations.”