THE HEAD OF NAMA will be grilled by the public spending watchdog of the Oireachtas today over the agency’s annual report.
CEO Brendan McDonagh is expected to be asked about NAMA being included under new Freedom of Information laws and the liquidation of the former Anglo Irish Bank when he appears before the Public Accounts Committee this morning.
Committee chair Fianna Fáil TD John McGuinness said that committee members will be keen to raise the issue of NAMA’s “relatively high turnover of staff and possible conflicts of interests that may arise as key staff depart.”
“Concerns have been raised that individuals leaving NAMA to work with property investment funds could be using the inside knowledge they had gained for their benefit or that of their new employers,” said McGuinness.
He said the big challenge for NAMA is to be able to generate enough income to recover the huge investment made by the State.
NAMA is currently on track to meet the target of repaying €7.5 billion by the end of this year.
However the agency has been criticised for saying that it will provide 2,000 empty houses to be used as social housing, many of which have been badly build or in areas located far away from facilities.
The meeting will take place in Committee Room 1 in Leinster House from 10am today. It can be watched live here.
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