Emergency meeting called over Wallace's NAMA allegations

The North's finance committee is holding an emergency meeting this morning to discuss allegations surrounding a £7 million money transfer that has been linked to the sale of some of NAMA's Northern Ireland portfolio.

The committee is expected to call Independent TD Mick Wallace and NAMA officials to give evidence.

Deputy Wallace has alleged in the Dáil that the proceeds of one NAMA loan sale to the US company Cerberus, were earmarked for a politician. He said the funds had ended up in an Isle of Man bank account controlled by a Belfast solicitors' firm.

Chair of the finance committee, is Sinn Féin Assembly member Daithi McKay, said there were a series of rumours circulating, but that politicians could not operate on rumours - and had to investigate the facts.