Nama Scandal: Agency boss ‘failed to protect public interest’

The chairman of Nama has been accused of “failing to protect the public interest” amid calls for an all-island inquiry into alleged payoffs that were part of the agency’s biggest ever property deal.

National Asset Management Agency chairman Frank Daly faced criticism from Public Accounts Committee (PAC) members yesterday as it heard explosive revelations about the sale of a huge property portfolio in the North.

Some £5m was to be paid to a former Nama adviser by a US equity fund if it won the bidding war for the loan book, members were told.