€20m Nama payouts a ‘sign good times back’

Finance Minister Michael Noonan has approved €20m in so-called ‘retention payments’, on top of salaries, for staff at Nama.

Senior officials appearing at the Public Accounts Committee yesterday revealed that the €20m pot has been made available in order to incentivise staff to remain at the State’s bad bank.

The payments were severely criticised by the PAC chairman John McGuinness, who said it was a clear sign top officials feel “the good times are back”.