Nama board said it was “disappointing” they could not pay staff bonuses after intervention by Minister for Finance

The board of Nama said it was “disappointing” they wouldn’t be allowed to pay staff bonuses after the Minister for Finance warned against it.

The agency halted performance-related pay for last year after being told by Paschal Donohoe that running a compulsory redundancy programme at the same time as paying bonuses would not be a “good mix”.

Internal records detail how the board believed this was “disappointing particularly” at a time when they were struggling to keep key staff.

They believed the suspension of payments was a “major risk” to the organisation but that they could not afford to lose the support of the finance minister, according to private session board minutes that were released under FOI.