NIB pays €5.8m to cover costs of inquiry

NATIONAL Irish Bank has paid the State €5.8 million to cover the costs of the inquiry carried out by department inspectors into the affairs of NIB.

The money was paid on foot of an order by Judge Kelly in the High Court, Justice Minister Michael McDowell said yesterday.

Speaking at a graduation ceremony for garda recruits in Templemore, he said: “I have received this money and lodged it to the department’s account in the Central Bank. I am glad that the full cost of this investigation has been borne by the bank whose behaviour brought it about,” he said.