OSUN STATE GOVERNMENT CRACKS DOWN ON SEGILOLA GOLD PROJECT OVER TAX EVASION AND ENVIRONMENTAL POLLUTION

By Shola Aderinto, 

The Osun State Government has launched a probe into the operations of the Segilola Gold Project, managed by Thor Explorations Ltd, a UK-based company listed on the Toronto Stock Exchange. The state government has raised serious concerns about the company's alleged tax evasion, use of proxies, and failure to comply with environmental rules and regulations.

According to Prof. Lukman Jimoda, the Special Adviser to the Governor on Mining and Mineral Resources, the government's investigation revealed that the company has been engaging in unethical business practices, including outsourcing employment and operations to undisclosed third parties without proper documentation or environmental compliance.

The state government is demanding payment of accrued taxes and environmental development levies, as well as proper documentation for all involved parties. The government has expressed concerns over pollution, including particulate emissions and possible acid drains from waste rocks, which pose serious environmental risks to the state.

Also Read: https://www.thirdeye.com.ng/2024/09/segilola-resources-operating-limited.html

The company has resisted complying with extant laws like the Personal Income Tax Act (PITA) and the Company Income Tax Act (CITA), which govern tax levies. The government is prepared to take necessary actions to ensure compliance and safeguard the state's environmental and economic interests.

Governor Ademola Adeleke's administration has emphasized the need for due payments to be made while ensuring that business operations continue smoothly. The Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi, has assured the public that the administration will ensure transparency and accountability in its dealings with companies operating in Osun State.

The state government's probe into the Segilola Gold Project is a significant move to address the concerns of tax evasion and environmental pollution in the mining sector. The government's determination to take action sends a strong message to companies operating in Osun State that they must comply with the law and prioritize environmental sustainability.

In a statement, Dr. Wale Bolorunduro, Financial Consultant to the Office of Mining and Mineral Resources, highlighted the state's concern over the company's alleged tax evasion and failure to comply with legal requirements, which could have severe financial implications for Osun.

The Osun State Government's actions demonstrate its commitment to ensuring that companies operating in the state prioritize environmental sustainability and comply with tax regulations. The government's balanced approach aims to foster investment while protecting the state's environmental and economic interests.

The public is assured that the administration will continue to monitor the activities of companies operating in Osun State and take necessary actions to ensure compliance with the law.