NAMA Winds Down with Big Payouts | Belfast News
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NAMA Winds Down with Big Payouts | Belfast News
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NAMA’s closure marked the end of a 17-year mission to clean up toxic assets from the financial crisis, but the exit came with a hefty price tag: nearly eight million euros in severance for 54 employees, averaging 147,000 euros each. Over four million euros went to voluntary redundancy payments for 47 staff, plus another 1.5 million euros for garden leave salaries and over a million euros in retention bonuses. Originally budgeted at 12.4 million euros, the final bill reflects staggered payouts extending into 2027. While NAMA handed over 50 million euros to NTMA and hundreds of millions in property to the Land Development Agency, its legacy lives on — seven former staff now join NTMA’s Resolution Unit to finalize the sale of remaining assets, closing a chapter that began amid economic turmoil.
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