Call for extension of Nama probe

Political parties have written to the Taoiseach demanding a commission of investigation into Nama should be broadened out beyond the sale of its Northern Ireland loan book.

Enda Kenny last week met with opposition leaders over controversies around Project Eagle and asked parties to come back to him with suggestions around the legal format and terms of reference for a commission of investigation into the sale.

The Social Democrats, Sinn Féin, and the Green Party are all open to extending the investigation beyond Project Eagle. While Fianna Fáil said it is crucial every effort is made to make the terms of the commission of inquiry “as tight and succinct as possible to allow it to report as speedily as possible”.

But in his letter to the Taoiseach, Michéal Martin added the commission should be afforded “discretion” in relation to the scope and intensity of the investigation.

The Social Democrats said the commission should have remit to examine the issues surrounding the major transactions of Nama since its establishment.

The party also called for the the “unique internal structure which Nama adopted, on foot of political advice, within Northern Ireland” to be included in any investigation.

Sinn Féin president Gerry Adams said the Nama commission of investigation must be wider than Project Eagle and should look into the full operation Nama.

Writing to the Taoiseach, Green Party leader Eamon Ryan said they key outcome of the proposed Commission of Inquiry should be to get an independent opinion on the conflicting arguments between Nama and the C&AG on whether there was an appropriate market valuation of the Northern loan book prior to the sale being agreed.

“The commission could then advise the Oireachtas whether they might require a mandate for further investigation or could advise the relevant criminal authorities of the information in their possession, if they consider it appropriate to do so.”