Three weeks ago, there was a motion before the Dáil calling for the establishment of a commission of investigation into the sale of NAMA's Northern loan book, Project Eagle. The Government and Fianna Fáil blocked this motion. The Taoiseach claimed that the allegations relating to the sale of Project Eagle had nothing to do with NAMA as an entity. Yet it emerged last week that the chairperson of NAMA, Mr. Frank Daly, wrote to the Standards in Public Office Commission, SIPO, in March to say that a member of NAMA's advisory board in Northern Ireland might have contravened the Ethics in Public Office Act while serving on the board. The Taoiseach will recall that this board member was alleged to have been charging clients fees for advice relating to NAMA. It is also alleged that he had an unethical working relationship with the head of asset recovery at NAMA which gave him access to sensitive commercial information. It is further alleged that he was lobbying on behalf of fee-paying clients to reduce loan repayments. In return, he would receive cash payments - the so-called fixer fees - and all this is very well documented.

Mr. Daly's letter to SIPO rubbishes the notion put forward by the Taoiseach that the sale of Project Eagle has nothing to do with NAMA. It has everything to do with NAMA and there are serious questions for NAMA to answer in respect of all this. However, the Taoiseach says there is nothing to see. In respect of the SIPO complaint, NAMA needs to explain why it waited until March 2016 to write to SIPO when it was aware of the issues involved in March 2014. All of this is on the public record. Mr. Daly admitted as much to Deputy McDonald at a meeting of the Committee of Public Accounts.

These are serious allegations of financial corruption and insider dealing - criminal offences. This is the people's money that was stolen and yet these allegations are not being investigated in this State. There are ongoing investigations in Northern Ireland. The Northern Ireland Assembly inquiry found the Government's position to be very unhelpful.

There are also investigations in the USA. An investigation here, contrary to what the leader of Fianna Fáil has said, would not prejudice any of these ongoing investigations. The Government is proposing a new template for the IBRC commission which could work for an inquiry into NAMA. Will the Taoiseach now commit to establishing such a commission of investigation?

We have dealt with this before with Deputy Adams and a number of other Deputies. On the question of value for money, we fully support the ongoing examination by the Comptroller and Auditor General into the disposal by NAMA of the loans of Northern Ireland debtors. The Comptroller and Auditor General, as Deputy Adams is aware, is best positioned to independently review the transaction in this jurisdiction. The Comptroller and Auditor General is required by law under section 226 of the NAMA Act to produce a report every three years assessing the extent to which NAMA has made progress towards achieving its overall targets. NAMA and the Comptroller and Auditor General appeared before the Committee of Public Accounts on 9 July 2015. At that appearance, the Comptroller and Auditor General indicated that his next section 226 report required under law would look in detail at a sample of NAMA disposals and a sample of properties held by it for investment and, furthermore, that a specific review of Project Eagle under section 9 of the Comptroller and Auditor General Act would be undertaken. I am quite sure Deputy Adams supports the integrity and credibility of the Comptroller and Auditor General. That report into Project Eagle, as I understand it, is practically completed. It will be debated by the Committee of Public Accounts, which is the accountable body in respect of NAMA. The Comptroller and Auditor General and the Committee of Public Accounts both hold NAMA accountable here. The Comptroller and Auditor General has indicated that he intends to issue a report under section 11 of the Comptroller and Auditor General Act following this review of Project Eagle. This is consistent entirely with the law and with his powers of investigation to scrutinise and report on operations or regarding any aspect of NAMA's work that may arise through its annual audits or special reports about any aspect of NAMA's work. Mr. Daly was doing his duty of seeing that everything was above board in respect of the law and his responsibilities.

The Department of Finance and NAMA have received a draft of the report and are providing comment to the Comptroller and Auditor General on that draft report. Officials of the Comptroller and Auditor General have also confirmed that, given their independent role, any queries related to the timing, content or any other specific aspects of their reports should be directed to the Office of the Comptroller and Auditor General in the first instance.

I am informed by NAMA, as I said before, that the loan portfolio in question was sold following an open process to the highest bidder for what it was worth. On the question about allegations made against certain individuals in Northern Ireland, NAMA paid no moneys to any party on this loan sale against whom allegations of wrongdoing are now being made. As I said previously, anyone with any evidence of wrongdoing needs to immediately report it to the relevant authorities. I am aware that two individuals were held for questioning as part of the UK National Crime Agency's investigation into the sale of Northern Ireland assets owned by NAMA. I am advised also that the NCA has confirmed to NAMA that no aspect of the agency's activities is under investigation.

I reassure the Taoiseach that of course I support the Comptroller and Auditor General, but his role is restricted and limited. He will seek to establish the monetary value of the transactions; I asked the Taoiseach about a commission of investigation. When Teachta Mick Wallace raised this issue last week, the Taoiseach gave him a different answer from the one he has given me. This week, he is saying it is okay and that the Comptroller and Auditor General is dealing with it. Last week, he said: "the Minister for Finance has a view that no specific line of inquiry here can stand up and be usefully pursued by a commission of investigation." This is the same Minister for Finance, Deputy Noonan, whom Frank Daly said he briefed in full on these matters, including on the scandal of the £15 million fixer fee. The Minister has yet to come into the Dáil to explain why he did not halt the sales process at that time.

The Taoiseach will recall that I raised this issue again when he hosted what I thought was a good meeting with the political leaders to discuss the consequences of the Brexit vote on Thursday last, and we discussed the amendments by the Government to the Siteserv investigation. We support those amendments and we support the bespoke commission that the Taoiseach proposes. The Taoiseach will also recall that he resisted an investigation into Siteserv at the time. That did not go away. This NAMA scandal will not go away. I again put it to the Taoiseach that the Siteserv model could work for an investigation into the NAMA scandal. My appeal to the Taoiseach is that he establish this. If he will not, will he get up and tell us why he will not allow an investigation by a commission of the type he is setting up for Siteserv?

There are investigations going on in the jurisdiction in the North into allegations that were made here. Deputy Adams makes the point about the Comptroller and Auditor General. Let me repeat for the Deputy that the Comptroller and Auditor General and NAMA appeared before the Committee of Public Accounts on 9 July last year. At that appearance, the Comptroller and Auditor General indicated that his next section 226 report would look in detail at a sample of NAMA disposals and a sample of properties that it held for investment, and, furthermore, that a specific review of Project Eagle would be undertaken under section 9 of the Comptroller and Auditor General (Amendment) Act 1993. The Comptroller and Auditor General is the appropriate independent statutory body here and the Committee of Public Accounts is the committee that holds that responsible and accountable in the eyes of the taxpayer. From that point of view, the draft report has been presented, there are comments on that going back to the Comptroller and Auditor General, and that report will be obviously completed, presented to and discussed by the Committee of Public Accounts, on which Deputy Adams's party has representation. I am quite sure that there will be a detailed and thorough discussion on the Comptroller and Auditor General's report into Project Eagle.

A commission of investigation.