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Correspondence between TI Ireland, NAMA and the Minister for Finance 2016

TI Ireland wrote to the Chair and Chief Executive of the National Asset Management Agency (NAMA) on 9 March 2016, as well as the Minister for Finance, Michael Noonan requesting that sales of NAMA assets with a value of over €1 million be suspended until enhanced anti-corruption controls are implemented at the agency. The call came in the wake of UK and US law-enforcement agency investigations into allegations of impropriety involving the sale of NAMA portfolios in Northern Ireland. TI Ireland suggested that NAMA follows international good practice in implementing anti-corruption procedures to address future risks, particularly those involving sales and engagement with third parties.

A NAMA official wrote back to TI Ireland on 21 March to suggest that there was no supporting evidence of corruption risks at NAMA to justify enhanced anti-corruption controls at the agency.

See www.lobbying.ie for further details.