Nama 'had no knowledge of alleged payment', chairman tells PAC

Nama's chairman has said any money diverted to the Isle of Man after the sale of Nama's loans in Northern Ireland, did not come from the agency.

Frank Daly has told the Public Accounts Committee that the agency was not aware of any funds allegedly being set aside until recent days.

Earlier the agency released a statement claiming Nama sold its Northern Irish loan book for its full value "and not a cent less".

At the PAC this morning, Mr Daly says any funds allegedly set aside for a Northern Ireland politician did not come from Nama's side.

"If a payment did find its way to an account in the isle of Man, as has been alleged, then wherever such a payment came from, it most certainly did not come from Nama, or from proceed that were due to Nama under this sale," he said.

"In fact, Nama had no knowledge of this alleged payment to Mr Coulter by [law firm] Brown Rudnick until recent days when it was put into the public domain."

Police in Northern Ireland have launched an investigation into investigating activities relating to the purchase of the assets after allegations were levelled in the Dáil last week by Independent TD Mick Wallace.