Noonan says NAMA is accountable

FINANCE Minister Michael Noonan has downplayed the need for greater oversight of NAMA despite Fine Gael previously warning the agency was operating “under a veil of secrecy”.

Mr Noonan said there were sufficient provisions in the legislation which established NAMA to ensure “appropriate accountability”.

NAMA is taking billions of euro of risky loans from the banks in a bid to cleanse their toxic balance sheets.