Northern Ireland

Sinn Féin insist McGuinness 'kept in the dark' over Nama

Sinn Féin's Martin McGuinness. Picture by Mal McCann
Sinn Féin's Martin McGuinness. Picture by Mal McCann Sinn Féin's Martin McGuinness. Picture by Mal McCann

SINN Féin has rejected renewed suggestions that Deputy First Minister Martin McGuinness was aware of the details of a 'memorandum of understanding' linked to Nama's Northern Ireland loan book.

The Republic's Department of Finance last night released documents about the sale of Nama's nothern loan portfolio.

One of the documents included notes of a conference call in January last year between the Sinn Féin MLA, First Minister Peter Robinson and the Republic's Finance Minister Michael Noonan.

Notes of the conversation show a letter of intent provided by investment company Pimco was discussed during the call.

The company was in the running to be awarded the sale of the loan book until the firm’s compliance staff told Nama that former Nama advisor Frank Cushnahan stood to earn £5m in fees should the company win the bid.

Pimco later left the bidding process and the loan book was eventually bought by US firm Cerberus for £1.3 billion.

A Sinn Féin spokesman said last night: "The conference call with Minister Noonan is a matter of public record and was highlighted by Martin McGuinness at the Assembly Committee meeting last week".

"Martin McGuinness was not involved in the drafting, nor did he consent to the correspondence referred to in the call with Minister Noonan. He was kept in the dark of the nature and extent of meetings and correspondence on this matter."