The Sinn Féin chairman of the Stormont finance committee Daithí McKay has criticised the Minister for Finance Michael Noonan over Nama's refusal to give evidence to the scrutiny body.

The finance committee, which is hearing evidence from officials of the North's Department of Finance today, wants Mr Noonan to put pressure on Nama chairman Frank Daly to ensure that his officials appear before the Stormont committee.

The committee is inquiring into allegations by independent TD Mick Wallace that a Northern Ireland politician or party was reportedly set to gain by up to £7 million as a result of the purchase of Nama's 850-property Northern Ireland portfolio by US investment company Cerberus for £1.3 billion.

Mr Daly told the Dáil that Nama would not give evidence to the Stormont committee.

He said Nama was accountable to the Oireachtas Committee of Public Accounts and not to Stormont and that any information he provided to the committee would be available to the Assembly committee through Oireachtas transcripts.

This has annoyed Mr McKay and fellow members of his committee, who believe Mr Noonan should seek to compel Nama to give evidence.

“Last week, the committee wrote to Finance Minister Michael Noonan asking him to ensure that Nama appears before the committee to answer questions on the sale of their Northern loans portfolio,” said Mr McKay.

“Nama have a responsibility to come before the committee to answer questions and it is disappointing that Michael Noonan has so far not responded,” he added.