The Osun State Government has announced the sealing of Segilola Resources Operating Limited’s business premises following a court order issued by Chief Magistrate Dr. Segun Ayilara in Osogbo. The order was granted in response to the state’s request to act against the company for various tax infractions.
The government accused Segilola Resources of failing to fully disclose the employees involved in its operations and of obstructing tax processes by not providing timely information and documents. In a statement released by the State Commissioner for Information and Public Enlightenment, Mr. Kolapo Alimi, it was noted, “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, which is listed on the London and Toronto Stock Exchanges.”
Alimi highlighted that after multiple demands and engagements, the company remained uncooperative regarding its tax obligations. Consequently, the Attorney-General of Osun State sought a court order to seal the company until the outstanding tax sum, calculated from 2019 to 2023, is paid into the state government’s account.
The government expressed concerns over companies making substantial profits in the state, particularly in the mining sector, yet neglecting to fulfill their tax responsibilities. “While the issue of shareholding values due to the acquisition of Osun State’s interest in Tropical Mines is purely commercial, we will continue to hold the company responsible for all its actions,” Alimi stated.
