Osun Govt Seals Off Segilola Mining Company Over Alleged Tax Evasion

Osun State Government has sealed off the business premises of Segilola Resources Operating Limited, effective September 30, 2024.

The statement’s action follows a court order permitting the state to distrain the company for flagrant tax violations and non-compliance with regulations.

The government alleged the company of flagrant tax violations and failure to disclose fully the employees directly and indirectly involved in its business activities, obstruction of tax processes by failing to provide timely tax information and documents.

CityMirrorNews reports that Segilola Resources Operating Limited is one of the major companies carrying out mining activities and mineral exploration in the State as a subsidiary of Thors Explorations Limited listed on London and Toronto Stock Exchanges.

A statement by the Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi on Monday, stated that the company remained uncooperative despite numerous demands, meetings, and consultations in its tax evasion and other violations.

It added that the Attorney-General of Osun State had obtained a court order to seal the company until the outstanding taxes, calculated from 2019 to 2023, are fully paid into the state government’s account.

“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.

“While the issue of shareholding values due to the acquisition of Osun state interest in Tropical Mines is purely commercial, we will continue to hold the company responsible for all its actions”, the statement reads.