Osun Govt seals off Segilola Resources Operating Limited over tax evasion
By Deborah Oladejo, Osogbo
The Osun State Government has sealed the business premises of Segilola Resources Operating Limited (SROL), a subsidiary of Thor Explorations Ltd, a UK-based company listed on the Toronto Stock Exchange.
This action follows a court order authorizing the state to distrain the company for failing to comply with a tax audit on Pay-As-You-Earn (PAYE), Withholding Taxes, and Development Levy from 2019 to 2023, until the owed sum is fully paid into the Osun State Government Account.
It is noteworthy that the Osun State Government had previously raised concerns about the operations of the Segilola Gold Project, managed by subsidiaries of Thor Explorations Ltd.
The court order, contained in a motion ex-parte dated September 27, 2024, was filed by the Osun State Government through the Attorney-General of the state against Segilola Resources Operating Limited.
Chief Magistrate Dr. Olusegun Ayilara granted the order for the closure following the state government’s request.
The order states: “The Attorney-General of Osun State is hereby permitted to seal and lock up all the business premises of Segilola Resources Operating Limited in Osun State for failing to comply with a Tax Audit on PAYE, Withholding Taxes, and Development Levy from 2019 to 2023, until the owed sum is fully paid into the Osun State Government Account.”
