Business
Tax evasion: Osun govt seals premises of mining firm, Segilola Resources Operating Ltd
The Osun State Government on Monday sealed the business premises of Segilola Resources Operating Limited, following a Court Order permitting it to distrain the company for various 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.
Segilola Resources Operating Limited is one of the major companies carrying out mining activities and mineral exploration in the state. It is a subsidiary of Thors Explorations Limited listed on London and Toronto Stock Exchanges.
According to the government, 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 of the Court to seal up the Company until the due sum calculated from 2019 to 2023 is fully liquidated into the Osun State Government Account.
Meanwhile, copy of the order signed by Dr. Ayilara O.A of the state high court in Osogbo gave Attorney General of the state permission to seal off the premises of Segilola Resources Operating Limited for violating the Tax Audit on payee, withholding taxes and development levy for period of 2019-2023.
“TAKE NOTICE that this Honourable Court wil be moved on the 27 day of September, 2024 of the hour of 9’0’clock in the forenoon or so soon thereafter as Counsel may be heard on behalf of the Applicant for the following:
“AN ORDER of this Honourable Court sealing-up and/or locking up al the business premises of SEGILOLA RESOURCES OPEATING LIMITED, ni Osun State, for violation of Tax Audit on Payee, Withholding Taxes and Development Levy, for the period of 2019-2023 until the due sum is fuly liquidated into Osun State Government Account”
“AND FOR SUCH FURTHER Order or orders as this Honourable Court may deem fit to make ni the circumstances if this case.
“ORDERED AS PRAYED”
The Attorney-General, Osun State is hereby permitted to seal up and lock up all the business premises of Segilola Resources Operating Limited in Osun State for violating of Tax Audit on Payee, withholding Taxes and Development Levy for the period of 2019-2023 until the due sum is fully liquidated into Osun State Government Account”
The state noted 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.