Nama says O’Flynn claim’s against agency ‘risible’

Nama has hit back strongly at businessman Michael O’Flynn’s claim that it seeks to “demonise and destroy” major developers, branding the allegation “risible”.

In a combative response to evidence given to the Oireachtas banking probe by the Cork-based businessman, the agency insisted it was doing a difficult job for the benefit of taxpayers.

Nama expressed concern at Mr O’Flynn’s statement to the inquiry that the agency had an unpublished objective “to demonise and destroy developers of scale and that this at times overshadowed its statutory objective”.