Last week, I raised with the Taoiseach the need for a full investigation into the sale and purchase of NAMA's Northern loan book, Project Eagle. As the Taoiseach avoided my question, I propose to put it to him again. Some of the allegations are shocking. Between May 2010 and November 2013, a member of NAMA's advisory board is alleged to have been charging a fee for advice about NAMA. It is further alleged that the same individual had an unethical working relationship with a senior NAMA officer who gave him access to additional and sensitive commercial information. It is also alleged that he was lobbying on behalf of clients to reduce loan repayment demands and in return he would secure cash payments, so-called fixer fees which were shared with the senior NAMA officer. When NAMA decided to sell its Northern loan book to the US vulture fund Cerberus, this individual was offering to disclose information relating to the value of the loans to a bidder called PIMCO.

It is alleged that PIMCO discovered that payment of a fixer fee of £15 million was requested, to be paid if PIMCO was successful. PIMCO reported this to NAMA and withdrew from the process. According to the response to a Sinn Féin freedom of information request, the Minister for Finance, Deputy Noonan, was updated by the NAMA chairman regarding these transactions. It is still unclear why the Minister did not intervene to exercise his general powers of direction over NAMA to suspend the sale’s process until these matters were fully investigated. If found to be accurate, these are serious allegations of financial corruption and insider trading from which the taxpayer has suffered a huge loss. Since 2005, this State has had a market abuse regime and regulations which provide for the prohibition of insider dealing and market manipulation. These are criminal offences. Will the Taoiseach explain why he will not establish a full investigation into these matters? He has refused to do so thus far. I and others have been asking for a very long time that he would at least do us the courtesy of explaining to us why he will not set up such an investigation.

Commissions of investigation in this jurisdiction operate in this jurisdiction. If the Deputy wants to give me evidence as to why there should be a commission of investigation in this jurisdiction, I would be quite prepared to listen to it.

I have just given it.

I hear allegations, rumours and speculation, but that is not the basis for setting up a commission of investigation on any particular matter. The Minister for Finance dealt with the question of a company that was in a tender position here which was not proceeded with when the question of a fixer’s fee arose. If the Deputy has other information beyond that, he knows to bring it to the fraud squad and the Garda Síochána. He should produce evidence to me here in the House as to why a commission of investigation should take place in this jurisdiction when there are legal cases being pursued in Northern Ireland where a commission of investigation set up here would not have jurisdiction. The principal personnel with NAMA were in front of the relevant committees here. They gave long and detailed explanations. Nobody has presented me with evidence of wrongdoing by NAMA in this jurisdiction. The allegations the Deputy makes-----

They did not say anything.

-----relate to other areas. I am quite prepared to receive from the Deputy, or anybody else, evidence as to why the Government should consider something else.

In so far as these are serious matters, and they are serious matters, there is no allegation or evidence of wrongdoing by NAMA in this jurisdiction. If that is not correct and somebody has evidence to the contrary, I would be happy and would like to see it.

It has been given already.

All accusations are allegations until proven. That is a distraction. These are allegations and I have been very careful to couch them in that way. The Taoiseach speaks of rumours. I have not put any rumours to him. It is very precise. A member of NAMA’s advisory board is alleged to have been guilty of malpractice and possible criminal offences, aided and abetted by a senior officer with NAMA. Why will the Taoiseach not set up such an investigation when called upon to do so? NAMA is an arm of the State. It is not the Taoiseach’s money and it is not my money; it is the people’s money. NAMA should be accountable and the Government should be transparent, open and accountable as well.

We have never been given an explanation for the failure by the Minister for Finance, Deputy Noonan, to intervene to suspend the sales process when he was informed that a fixer’s fee of £15 million was requested. That is very straight and direct. I am giving the Taoiseach the substance of these allegations. We are concerned that taxpayers are not getting full value. This includes the tens of thousands of families struggling to pay mortgages. The money the Government is not putting into health services could have gone into these other people’s pockets and bank accounts. The homeless and the citizens lying on hospital trolleys are the victims of this type of behaviour. Will the Taoiseach commit to the establishment of a commission of investigation into the sale of Project Eagle? The Taoiseach should not fob me off by saying it is happening in another jurisdiction. This is a national issue. NAMA’s Northern portfolio is a national asset belonging to the people of this State.

The Deputy can believe me that I have no intention of fobbing off anything that is happening here or in any other jurisdiction, unlike some of the stuff that I hear. I believe, and my understanding is, that this loan was executed in a proper manner and that despite all the confusion and conflation, there has been no allegation of wrongdoing made against NAMA down here.

The Taoiseach should read the Official Report of the Dáil.

The loan portfolio was sold following an open process to the highest bidder for what it was worth. NAMA paid no money to and had no relationship with any party on this loan sale against whom allegations of wrongdoing are now being made.

Not true.

Deputy Adams did raise the point here-----

Was it only people who worked for it?

-----that there were two individuals arrested on 31 May in respect of the UK’s National Crime Agency’s investigation into the sale of Northern Ireland assets owned by NAMA. I understand that several investigations are going on, as Deputy Adams is probably aware, including those with the UK National Crime Agency, NCA, the Department of Justice and the Law Society of Northern Ireland. We welcome those investigations.

Not here.

The allegations are being pursued by the authorities of the jurisdiction in which they are being followed through. NAMA continues to co-operate with-----

The Government has jurisdiction over NAMA.

-----the NCA and other relevant authorities in respect of those investigations.

The Government is responsible for NAMA.

The Department of Finance has not had any direct contact with the National Crime Agency but it is willing and available if required. The Department of Finance has made all relevant information in respect of Project Eagle publicly available on its website and, separately, the Comptroller and Auditor General is examining the disposal of the loans of Northern Ireland debtors. The Comptroller and Auditor General is independently positioned to comment on this if necessary. The officials at the Office of the Comptroller and Auditor General have confirmed that given their independent role, any queries related to the timing, content or any other specific aspects of their reports have to be directed to their office.