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Mining firm to stay sealed over tax, shareholding issues– Adeleke

By Michael Ofulue, Osogbo

Following the indictment of Segilola Mining Operations Limited, a subsidiary of Thor Exploration Limited, by the committee set up by the government to investigate its operations, the Osun State Governor, Senator Ademola Adeleke, has reaffirmed that the company will remain sealed until it fulfils its legal obligations regarding shareholding, tax evasion, and environmental degradation.

The Governor made this known in Osogbo while receiving a fact-finding team from the Federal Ministry of Solid Minerals Development, Abuja.

Addressing the meeting, Governor Adeleke, represented by his deputy, Prince Kola Adewusi, explained that the State Government’s claims against the mining company do not infringe on its rights. He noted that the government is not asking for royalty taxes but for what is fundamentally due to the state, as stipulated by law.

He, however, maintained that the state government is ready to cooperate with the Federal Ministry of Solid Minerals Development in resolving the issues.

Earlier, in his remarks, the Special Adviser to the Governor on Solid Minerals and Mining, Professor Lukman Jimoda, revealed that the company has failed to remit its Pay-As-You-Earn (PAYE) taxes for its staff over the past 18 months, often seeking refuge in Abuja whenever called to account.

Prof. Jimoda also criticised the company’s failure to pay any dividends on the over ₦5.1 million shares the state government holds. He urged the fact-finding team to intervene by ensuring that the ₦3.2 billion in withholding taxes, along with the accumulated unpaid dividends, are remitted to the State Government as quickly as possible.

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Also speaking at the meeting, the Ogboni of Ipole, Oba Oyebade Oyele, who doubles as Chairman of the Ijesa South Council of Obas, where Segilola Mining Company operates, said no state in the country would tolerate what the company has been doing in Osun State for the past seven years.

Responding, the leader of the delegation from the Federal Ministry of Solid Minerals Development, Imam Ganiyu, appreciated the State Government’s stance on the issues raised. He emphasised that it is the company’s responsibility to fulfil all its obligations to the state and assured that the issues would be resolved amicably without further delays.

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