The chairman of NAMA has made a complaint to the State's ethics watchdog about a former member of the agency's Northern Ireland advisory committee.

Frank Cushnahan, against whom the complaint has been made, is at the centre of controversy surrounding Nama's single largest property deal known as Project Eagle.

The property portfolio was sold to US investment giant Cerberus.

Frank Daly has written to the Standards in Public Office Commission formally complaining about Mr Cushnahan, saying he may have breached the Ethics in Public Office Act.

A spokesman for NAMA added: "The complaint does not relate to the sale of Project Eagle to Cerberus. It relates purely to Section 17 of the Ethics in Public Office Act and whether Mr Cushnahan made all required disclosures whilst a member of the NI Advisory Committee of NAMA".

Project Eagle has been dogged by controversy after £7m linked to it was found in an Isle of Man bank account.

Investigations have been launched by the UK's National Crime Agency, the US Department of Justice's Securities and Exchange Commission as well as a parliamentary inquiry in Belfast.

SIPO has also confirmed that it has received a complaint from NAMA in relation to Mr Cushnahan and is considering it.