Nama and Project Eagle

Sir, – Your editorial "Unanswered questions" (March 11th) asks why the Nama board did not stop the Project Eagle sales process and says Nama's "reticence" on this matter is "hard to understand and difficult to defend".

Your newspaper published an article on October 2nd, citing the Nama chairman’s comments to the Public Accounts Committee of October 1st, 2015, rejecting any allegation that the sale process was “corrupt” and standing over the integrity of the process (“Nama rejects allegation that the sale of Project Eagle was ‘corrupt’”, October 2nd).

In addition, the Nama chairman dealt with these issues in an article you published on October 5th, where he said: “The sale was conducted in line with international best practice, independently overseen by Lazard, a major international investment bank. The integrity of the sales process was fully protected. By our estimates, Nama has now answered several hundred questions on Project Eagle from the Public Accounts Committee and the Northern Ireland Finance Committee. We have answered several hundred more from media outlets in Ireland, Northern Ireland and beyond. We have done this truthfully and professionally.” (Frank Daly, “Time has come for Nama’s critics to put up or shut up”, Opinion & Analysis, October 5th).

We would have expected The Irish Times editorial to reflect the facts regarding Nama's extensive engagement. – Yours, etc,


Head of Public Affairs,

National Asset

Management Agency,

Treasury Building,

Grand Canal Street,

Dublin 2.