NEWS
Tax Evasion, Environmental, Shareholding Infractions Incur Segilola Osun Govt’s Wrath
The Osun State Government has raised 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.
According to Prof. Lukman Jimoda, the Special Adviser to the Osun State Governor on Mining and Mineral Resources, the state’s investigation revealed various unethical business practices, including alleged tax evasion, use of proxies, and failure to comply with environmental rules and regulations.
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The companies involved — such as SINIC Engineering, ATF Consulting, Monurent Nigeria, and others — are reportedly engaged in outsourcing employment and operations to undisclosed third parties without proper documentation or environmental compliance.
Prof. Jimoda highlighted that the federal constitution places environmental oversight under the concurrent list, allowing the state to assess companies’ operations for economic and environmental impacts.
He emphasized that the Segilola project, despite its significant production since 2019, has resisted complying with extant laws like the Personal Income Tax Act (PITA) and the Company Income Tax Act (CITA) which govern tax levies.
He also expressed concerns over pollution, including particulate emissions and possible acid drains from waste rocks, which pose serious environmental risks to the state.
The state government is therefore demanding the payment of accrued taxes and environmental development levies, as well as proper documentation for all involved parties.
The Special Adviser stressed that Osun has not received its due revenue from the Segilola project for over three years, despite its bankable gold production since 2019.
“The government is prepared to take necessary actions to ensure compliance and safeguard the state’s environmental and economic interests”, the Special Adviser noted.
Also speaking, the Financial Consultant to the Office of Mining and Mineral Resources, Dr. Wale Bolorunduro while presenting his report said the allegations against Thor Explorations Ltd and its subsidiaries mark a significant moment for Osun State, as the government seeks to reclaim its financial rights and ensure compliance with tax regulations.
Dr Bolorunduro 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.
Dr. Bolorunduro’s detailed statement paints a picture of a company attempting to sidestep its fiscal responsibilities, with far-reaching consequences for the state’s revenue.
“The refusal to remit taxes from both direct employees and service providers, as well as the evasion of other financial obligations, highlights a deeper issue of corporate governance and transparency.
Particularly troubling is the claim that Osun State’s interests in Tropical Mines Ltd were strategically diminished without due financial compensation, raising questions about the fairness of the company’s practices in Nigeria versus its compliance with international standards in the UK and Canada, where it is publicly listed,” Dr. Bolorunduro stated.
Governor Ademola Adeleke’s administration has emphasized the need for due payments to be made, while also ensuring that business operations continue smoothly. This balanced approach underscores the state’s willingness to foster investment, but not at the expense of its fiscal health or integrity.
Responding to the allegations that the Adeleke Dynasty is involved in the management of the Segilola Gold Project, Commissioner for Information and Public Enlightenment, Kolapo Alimi denied the report, noting that those holding a stake or the other in the gold firm areas shortchanged the Osun State government.
He therefore assured members of the public that the administration of Senator Ademola Adeleke will not relent in efforts to ensure that the state gets its dues from all companies operating in Osun State.
The remains of the late Chief of Army Staff, Lieutenant General Taoreed Lagbaja, have arrived at the National Military Cemetery in Abuja, signaling the start of his burial ceremony according to military protocols.
The body arrived promptly at 3:00 p.m. on November 15, 2024, transported in an ambulance. Following tradition, the casket was received and will be positioned by pallbearers before a moment of silence is observed to honor the late COAS.
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During the ceremony, the Chief of Defence Staff, the Minister of Defence, and President Bola Ahmed Tinubu are expected to deliver tributes highlighting Lt. Gen.
Lagbaja’s contributions to the nation. Afterward, the national flag will be presented to his next of kin, and the casket will be lowered.
Dignitaries, including the Senate President, Speaker of the House of Representatives, and other government officials, will lay wreaths in memory of the late army chief, paying their last respects.
Lt. Gen. Lagbaja is remembered for his service and dedication to the Nigerian Army and the nation. The ceremony underscores the nation’s gratitude for his commitment and leadership.
The Supreme Court has unanimously dismissed a lawsuit challenging the legality of the Economic and Financial Crimes Commission (EFCC) Act, upholding the continued existence of the anti-graft agency.
A seven-man panel of justices, led by Justice Uwani-Abba-Aji, ruled that the case, filed by Attorneys General from several states, was without merit.
READ MORE: Police Recover N2.3m Extorted From Abuja Resident, Officers Detained
The lawsuit, initially filed by the Attorneys General of 16 states, sought the dissolution of the EFCC, which was established to combat corruption in Nigeria.
The states involved in the case included Ondo, Edo, Oyo, Ogun, Nassarawa, Kebbi, Katsina, Sokoto, Jigawa, Enugu, Benue, Anambra, Plateau, Cross-River, and Niger.
As the legal proceedings unfolded, some states withdrew their support, while others joined the case as co-plaintiffs.
Notably, Imo, Bauchi, and Osun states joined the suit on October 22, while Anambra, Ebonyi, and Adamawa states withdrew, leading to the dismissal of their claims by the court.
The ruling strengthens the EFCC’s legal foundation, ensuring the continued operation of the commission in its fight against financial crimes in the country.
The Nigeria Police Force (NPF) has detained officers involved in the alleged extortion of N2.3 million from Mr. Nwosu Ndubuisi in Abuja.
This was disclosed by the Police Public Relations Officer of Zone 7 Command, DSP M.B. Abdulkadir, in a statement shared on X (formerly Twitter).
The extorted sum has been recovered and returned to the victim, with disciplinary proceedings initiated against the implicated officers.
The statement read, “Further to the earlier statement issued on the alleged extortion of one Mr. Ndubuisi Nwosu by some officers of Zone 7 Headquarters, Abuja, investigation was carried out, the officers allegedly involved in the extortion have been identified and detained, while disciplinary proceedings have commenced against them.
“The sum of N2.3m has been recovered and returned to Mr. Ndubuisi Nwosu.”
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The Assistant Inspector-General of Police overseeing Zone 7 Headquarters, Abuja, AIG Benneth C. Igweh, assured the public that the disciplinary process would be transparent, in line with the accountability standards of the Inspector General of Police, Olukayode Egbetokun.
Igweh emphasised, “The zone will update members of the public on the outcome of the disciplinary proceedings against the defaulters. Zone 7 headquarters remains steadfast in its commitment to upholding the rule of law, public safety, security and its mandate of protecting lives and properties.”
The incident was initially reported by X user Harrison Gwamnishu (#HarrisonBbi18), who revealed that the officers coerced Ndubuisi into selling his laptop at Banex Plaza to pay for bail. Following this revelation, AIG Igweh ordered an investigation into the matter, leading to swift action.
This development highlights the commitment of the Nigerian Police Force to addressing misconduct within its ranks and ensuring justice for victims.
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