Taoiseach's lodgment equated to stg£25,000 precisely

Lodgment:AIB official gives evidence at Mahon tribunal Ahern has told tribunal that deposit included Irish pounds and sterling Lodgment

A cash lodgment made by Taoiseach Bertie Ahern in October 1994 equated to stg£25,000 precisely when one of the sterling exchange rates operated on the day was applied, the tribunal heard.

Mr Ahern has told the tribunal that the lodgment was made up of IR£16,500 given to him by four friends, and sterling given to him after a dinner in Manchester.

Des O'Neill SC, for the tribunal, asked AIB official John Garrett about the lodgment of £24,838.49 on October 11th, 1994, with AIB O'Connell Street, Dublin. Mr O'Neill told Mr Garrett that the Taoiseach "has indicated to us that the sum of stg£8,000 or thereabouts, represented the sterling element of the £24,838.49 lodgment made that day, and that the balance of his lodgment was represented by £16,500 in Irish currency".

Mr Garrett agreed with Mr O'Neill that stg£25,000 would have equated with IR£24,838.49 if the sterling rate for amounts up to a value of £2,500 was applied, and a £5 commission deducted.

Mr O'Neill: "That sum equates exactly to the amount which was lodged to the account of Mr Ahern on October 11th, 1994, the date upon which these rates of exchange were applicable, is that correct?"

Mr Garrett: "Correct."

Mr Garrett said bank procedure would have been to ring the "note room" to get a rate for a transaction in excess of £10,000. He agreed with Mr O'Neill that other transactions being examined by the tribunal showed incorrect exchange rates being used.

Total sterling notes sold to the branch on the day in question had a value of £27,491.95, Mr O'Neill said. This was an "exceptional amount" of sterling for the branch. During the first half of 1995, the average daily value for sterling notes purchased was in the £2,000 region, he said.

Mr O'Neill: "The amount of sterling purchased in the branch on this particular day is sufficient to have allowed for the entire of the £24,838.49 [lodged by Mr Ahern] to have been a sterling amount, isn't that so?"

Mr Garrett: "That's correct, yes."

Mr O'Neill said Mr Ahern had said he lodged stg£8,000 and the bank records showed the foreign exchange teller had taken in sterling to a value of IR27,491.95. If Mr Ahern was correct, then someone else would have had to lodge close to stg£19,000 on the same date. Yet the bank's records did not indicate such a lodgment, Mr O'Neill said.