Osun Govt Gets Court Order To Stop Segilola Operations

An Osun State High Court sitting in Ilesa yesterday issued a restraining order against Segilola Resources Operating Limited, stopping its operations forthwith.

The state government, through the Attorney General of the state and the state Internal Revenue Service, had applied for a restraining order against the company from the court.

Ruling in favour of the state government, Justice A.A Aderibigbe ordered Segilola Resources Operating Limited from resuming, performing, and operating her business in Osun State until all her outstanding tax (Payee) accruable from 2019-2023 and development levy payable to Osun State are fully liquidated or paid into the covers or account of Osun State Government.

“An order of this honourable court is made, restraining the respondent from resuming/performing/operating her business in Osun State until all her outstanding tax (Payee) accruable from 2019-2023 and development levy payable to Osun State are fully liquidated or paid into the covers or account of Osun State Government”.

The Osun state government had earlier noted that Segilola Resources Operating Limited has accumulated tax liabilities of N3.25 Billion with a demand notice issued in April 2024.

It added that Thors Explorations was operating six other companies on the site without disclosure to the state government for tax and environmental accountability purposes.

Osun State Government further said that Thor Exploration Limited confirmed that the state has Five Million, One Hundred and Ninety-Two Thousand, Eight Hundred and Ninety-Six units of shares of Thor Exploration, United Kingdom, insisting that Osun is entitled to collect financial implications to date as a shareholder. The court adjourned till Thursday 17th, October, 2024.