NDC fails to pay 12bn cedis Loan

The failure by the defeated NDC to re-pay a twelve billion cedis 'loan' contracted from Ghana Rubber Estate Limited (GREL) during last year's electioneering campaign has landed two of the company's management staff in trouble, reports the Weekend Statesman, a private weekly.

The board of the company has forced the Managing Director, Etienne Popeler, to resign and sent the Financial Controller, K.A. Asante on indefinite leave.

The loan to the NDC was discovered earlier this year, during an audit of the company's accounts and the bewildered and angry board had no option but to descend hard on the two men.

The statesman has learnt that during last year's electioneering campaign, the cash-strapped NDC approached Popeler for a loan to fund its activities. Sure of victory, the party promised to repay the money immediately after the election.

Obviously fearing for his position, if he did not play ball, the ex- MD directed his financial controller to pay the amount to the party. But since the elections, all efforts to get the NDC to pay back the money have been unsuccessful.

Our reporter saw a letter on a notice board at the company's premises at the harbour area in Takoradi, informing the workers of the ex-MD's resignation on February 19.

The letter, signed by his secretary, assigned no reasons for the resignation, but stated that the board had appointed Patrick Berny-Tarente to act as Managing Director.