Why is NAMA afraid to appear before Northern Finance Committee?

IF THE National Asset Management Agency (NAMA) and other parties have nothing to hide in relation to the controversy surrounding the sale of NAMA's northern property loan portfolio, then they should have no fear of coming forward and clarifying that, Stormont Finance Committee Chairperson Daithí McKay MLA told reporters at Leinster House in Dublin on Thursday.

Daithí McKay was speaking following his appearance before the Public Accounts Committee (PAC).

Also speaking on the plinth at Leinster House, Mary Lou McDonald said :

"NAMA and Frank Daly need to make themselves available to the Committee in the North in full committee session to answer the very, very many questions that arise in regard to the sale of the Northern loan book"

She said attempts by them snub or obstruct the situation in the North was unacceptable:

"The sales process from start to finish was riddled with conflicts of interest, with payback monies and very serious questions for NAMA itself - the body that bears responsibility for safeguarding the interests of the taxpayer."

Mary Lou said a full investigation needed to be launched into the goings-on and the Dublin Government needs to move swiftly to set that up:

"For my own part, I am not convinced at all that members of the Northern Board [of NAMA] were not privy to confidential information. Nor am I satisfied with their contention that the sales process was robust and squeaky clean. I don't believe that's the case. It is now clear that we have a criminal investigation on the one hand in respect of monies in a bank account in the Isle of Man; we have a parliamentary inquiry in the North, and the PAC in the South," she said.

Mary Lou described the release of documents by the Department of Finance at the eleventh hour last night as a bid to distract from the clear questions that arise for NAMA at the PAC.

She said it was a "cynical move" and further evidence of the fact that the administration in Dublin doesn't want to face these issues head on.

Daithí McKay MLA told An Phoblacht that NAMA needs to come before the Finance Committee in the North in full public session, and that anything less will do nothing to reassure the public.

The Northern Finance Committee Chairperson said he does not believe NAMA is treating these inquiries with the appropriate seriousness they deserve:

"This is one of the most controversial property deals we've ever seen on this island. Given that fact, NAMA needs to treat this issue seriously," he said, adding that offers for a private meeting would be no substitute.

"There are a number of unanswered questions. There are a number of parties, including NAMA, who haven't come forward and seem to be hiding something. If the former Ministers Simon Hamilton and Sammy Wilson have nothing to hide in relation to their dealings with NAMA and the meetings they had pertaining to Pimco and Brown Rudnick, then they should come forward and clarify that there was no wrongdoing," he said.

"The longer they stay away from the committees and hide from public view, then of course the public will come to their own conclusions."