The Osun State Government, on Monday, September 30, 2024, sealed the business premises of Segilola Resources Operating Limited after obtaining a court order. The order was issued in response to allegations of tax violations and the company’s failure to fully disclose employees involved in its operations, both directly and indirectly. Additionally, Segilola Resources was accused of obstructing the tax process by not providing timely tax information and documents.
Segilola Resources Operating Limited is a major mining and mineral exploration company in Osun State and operates as a subsidiary of Thors Explorations Limited, which is listed on the London and Toronto Stock Exchanges.
Oluomo Kolapo Alimi, the Osun State Commissioner for Information and Public Enlightenment, said in a statement on Monday: “After a series of demands, meetings, consultations, and engagements, the company still remained adamant and remorseless in its tax evasion and other violations. The Attorney-General of Osun State approached the court and consequently obtained an order to seal up the company until the due sum, calculated from 2019 to 2023, is fully liquidated into the Osun State Government Account.”
He further expressed disappointment, stating, “The state notes with regret that while some companies make billions of naira in the state, especially in the mining sector, they are not ready to give the state its lawful dues.”
Alimi also addressed the issue of shareholding values related to Osun State’s interest in Tropical Mines, clarifying that it is a commercial matter. However, he emphasized that “we will continue to hold the company responsible for all its actions.”
