NAMA directors to go before PAC

Three more NAMA directors are set to face questions this morning over the sale of its Northern Ireland loan book.

The hearing at the Public Accounts Committee will focus on what knowledge directors had of a potential fixers' fee for a NAMA advisor.

Last week the Public Accounts Committee was told that the controversial sale of NAMA's northern loans was NOT overseen by its Northern advisory committee – but instead by NAMA's main board, based in Dublin.

Today three members of that board will be called for questioning on why the sale of the loans was not called off, after concerns were raised about alleged fixers' fees. 

There'll also be questioning as to why the loans were all sold off on one piece when it meant only a handful of worldwide groups would be able to afford them.

That decision was singled out for scrutiny by the Comptroller & Auditor General in a hard-hitting report last month.

When the loans were sold two years ago they raised just over 1.3 billion pounds – but the auditor says they could have been worth nearly 1.5 billion if they weren't sold so suddenly, and the taxpayer was left nursing the loss.