Lenihan to meet board over Fingleton controversy

Finance Minister Brian Lenihan is due to meet the Irish Nationwide Building Society this week as the controversy over the pay and pension of its chief executive rumbles on.

It emerged over the weekend that a €1m bonus was paid to Michael Fingleton in the weeks after the State guarantee of bank deposits was announced last September.

Mr Fingleton has also reportedly received a €28m pension pay-out from the building society.

Meanwhile, reports this morning say the man chosen as the company's next chief executive has told the board he is no longer interested in the job due to a Government-imposed salary cap.

The Government has capped the salary for the job at €360,000 as part of its guarantee of all deposits in Irish financial institutions.