Member of Parliament (MP) for Jomoro constituency in the Western Region, Mr. Paul Essien, will soon be dragged before court, Today can report.

The intended move, which will be initiated by Mr. Newman Nyameke, a businessman, is in respect of the failure of Mr. Essien to repay over a GH¢100,000.00-loan facility advanced to him by the former in the run-up to the 2016 poll.

The loan facility, which was contracted by Mr. Essien, enabled him to complete some market stores at Tikobo No. 1 in Jomoro, which also contributed immensely towards his winning of the Jomoro seat for his party, the New Patriotic Party (NPP).

Early last year (2016), through a written agreement, Mr. Newman allegedly offered to Mr. Essien the said amount to help him prosecute his campaign agenda of winning the Jomoro seat.

The loan was secured by Mr. Newman’s gratuity and a letter of comfort was issued by his bankers, as his employer.

The purpose for the loan facility, according to the said agreement which is in possession of Today, was to help Mr. Essien, who at the time was the NPP parliamentary candidate, to complete some market stores at Tikobo No. 1.

According to the agreement, the loan repayment was for a period of three months (Monday, 2nd January, 2016 to 2nd April, 2016) with additional interest.

The agreement, which has the signature of Mr. Paul Essien and Nyameke as the Lender, further makes it clear that the accumulated interest for the three months would be GH¢40,000.00.

However, when Today reached Mr. Essien, who also doubles as the Deputy Minister for Culture and Chieftaincy Affairs, via phone on the morning of Sunday, June 18, 2017 he declined commenting on the matter.

He stated categorically that: “Massa, I am not ready to talk about these issues; are you okay?”

“He [referring to Mr. Newman Nyameke) knows the channels to pass through if there is anything… I don’t want to talk about this issue!” the MP further added.

So per the agreement, Tikobo No. 1 Market Stores Limited which was represented by Mr. Essien, was obliged to pay an amount of GH¢140,000.00 within the three-months period.

And though the agreement states that the repayment of the interest would be on monthly basis, it also indicates that the principal should be paid by the end of the three-month period.

According to Mr. Nyameke, it was further agreed that in the event the debtor defaulted, the lender would fall on the market stores which was used by the recipient as collateral.

The agreement also states that failure on the part of Tikobo No.1 Market Stores to pay the money could lead to a possible legal action on the structure [market stores] by the lender (Mr. Nyameke).

Mr. Nyameke told Today that the failure on the part of Mr. Essien to repay the loan has created a situation where his bank was breathing down on his neck almost on a daily basis, demanding the money he contracted from them.