Tell stories, for example about sovereign (5)
I believe the answer is:
liege
'sovereign' is the definition.
(I've seen this in another clue)
'tell stories for example about' is the wordplay.
'tell stories' becomes 'lie' (to tell stories is to lie or fib).
'for example' becomes 'e.g.' (short for 'exempli gratia', 'for example' in Latin).
'about' is a reversal indicator.
'eg' back-to-front is 'ge'.
'lie'+'ge'='LIEGE'
(Other definitions for liege that I've seen before include "A person holding land under feudalism" , "Feudal lord or Belgian city" , "Feudal vassal from a Belgian city" , "Vassal, subject" , "Chieftain" .)