Government under pressure to probe Nama’s ‘Project Eagle’ sale

The Government is coming under increasing pressure to establish a commission of investigation into the sale of Nama’s Northern Ireland loan book.

Nama sold its entire Northern Ireland portfolio, known as Project Eagle, to US investment fund Cerberus in 2014, however it is understood that the Comptroller and Auditor General (C&AG) has found that “hundreds of millions of euro” more could have been realised from these assets.

Yesterday Government Chief Whip Regina Doherty said the report, which also found “irregularities” and “shortcomings” in the sale, will be brought to cabinet on Wednesday, before being published the same day or on Thursday morning.