Tax Evasion: Osun Govt seals off Segilola resources operating Limited

Tunde Adeleke, Osogbo

The Osun State Government, has sealed off the business premises of Segilola Resources Operating Limited, SROL, a subsidiary of Thors Explorations Limited listed on London and Toronto Stock Exchanges.

The  premises was sealed off following a Court Order permitting  the State to distrain the company for violation of Tax Audit on Payee, Withholding Taxes and Development Levy, from 2019 to 2023 until the due sum is fully liquidated into Osun State Government Account.

Daily Champion recalls that, the Osun State Government had raised serious concerns about the operations of the Segilola Gold Project, managed by subsidiaries of Thor Explorations Ltd, a UK-based company listed on the Toronto Stock Exchange.

The order contained in a motion ex-parte dated September 27th 2024, was filled by the Osun State Government through the Attorney-General of Osun State against Segilola Resources Operating Limited.

The Chief Magistrate, Dr Olusegun Ayilara granted that the order of the closure after the prayer of the Osun State government to the court.

The order reads, “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 from 2019 to 2023 until the due sum is fully liquidated into Osun State Government Account.”