National Broadband Ireland paid over €2m in fees to investors

The company said the money paid to its backers in previous years was due to ‘start-up costs’

National Broadband Ireland has been tasked with rolling out the state’s rural broadband scheme. Picture:

Investors in National Broadband Ireland (NBI) were paid millions of euro in additional fees by the company last year, the Business Post can reveal.

New accounts filed with the Companies Registration Office (CRO) for Metallah, a parent company of the two frontline NBI companies established to deliver the National Broadband Plan, show that David McCourt and other investors earned €2.2 million in fees in 2021.

Figures contained in the company’s newest set of accounts showed ...