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.
NEWS
Obi Asks World Bank, Banks to Verify Anambra Debt Claims
Former Anambra State Governor Peter Obi has called on the World Bank and Nigerian banks to verify records relating to the debt claims made against his administration, insisting that the figures being presented by the state government should be subjected to documentary scrutiny.
Obi made the call during an interview on Arise TV’s Prime Time programme on Thursday, September 24, 2026, while responding to the Anambra State Government’s claims over loans allegedly incurred during his eight-year tenure.
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The former governor specifically urged the World Bank to provide records showing the actual drawdowns from the facilities linked to Anambra, rather than relying on the total amount originally approved or contracted.
“Please publish these documents. I’m urging you, please. The World Bank is in Abuja; they can give you the history of the drawdowns,” Obi said.
He also challenged the relevant Nigerian banks to verify the financial records he said were contained in his 2014 handover documents.
“The banks mentioned here are Nigerian banks; you have access to their headquarters. Ask them whether this money was there,” he added.
Obi’s comments came amid a dispute over the Anambra Government’s earlier claim that eight external loan facilities associated with his administration had an outstanding balance of about N127.4bn as of June 30, 2026.
The state had linked the loans to projects in areas including education, healthcare, erosion control and malaria prevention.
The former governor disputed the presentation, arguing that approved loan facilities should not automatically be treated as money borrowed or spent if the funds were not actually drawn down.
He maintained that some of the funding arrangements involved Federal Government-backed concessionary financing and said the World Bank records could establish when the money was accessed.
The controversy has since shifted towards the actual amount drawn from some of the facilities.
Anambra State Commissioner for Information and Value Reorientation, Law Mefor, reportedly acknowledged during an Arise TV appearance that the government had not properly verified the amount actually drawn from a $123m facility before citing the larger figure. He said the government would seek clarification from the relevant authorities.
The development has added another layer to the disagreement between Obi and the Anambra Government over the state’s financial position at the end of his administration.
Obi has consistently maintained that he left office in March 2014 without outstanding salaries, pensions, gratuities or certified contractor obligations, while the state government has continued to dispute aspects of his account of the state’s inherited liabilities.
NEWS
‘Where Is the President?’ — Peter Obi Questions Tinubu’s Prolonged Absence
Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has questioned President Bola Tinubu’s prolonged absence from Nigeria, saying Nigerians deserve to know the President’s whereabouts amid the country’s security challenges.
Obi made the remarks on Arise TV on Thursday while discussing the President’s absence from the country and the situation surrounding other senior government officials.
According to Obi, the issue was not simply that Tinubu was outside Nigeria, but that he had remained abroad beyond the period initially announced for his trip.
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“It’s not just that he’s out of the country. He’s out of the country beyond the days he was supposed to be. Beyond the days they even said he was going for,” Obi said.
He also noted that Vice-President Kashim Shettima was outside the country, while Senate President Godswill Akpabio was also reportedly abroad and the Senate was not in session.
“The Vice President is not in the country. And I understand the Senate President is out of the country, the Senate is not in session,” he said.
Obi expressed concern about the situation against the backdrop of insecurity and recent incidents involving the deaths of suspected illegal miners in Niger State.
“We don’t need this level of rascality at this moment in time, when Nigerians are being kidnapped, being killed, things are… we need a country where we have somebody, where we have competence, capacity, and compassion,” he said.
Referring to the deaths recorded in Niger State, Obi said the presence of the country’s chief executive was particularly important during a crisis.
“Look at Niger State now, where 10 people… where some young people have died for nothing,” he said.
The former Anambra State governor argued that while there is a chain of command within government, delegation should not replace the physical presence of the country’s leader during critical situations.
“It is… the CEO being present is critical at a time of crisis. Not delegation. Yes, you have a chain of command,” Obi said.
He subsequently asked where the President was and insisted that Nigerians should be informed.
“Where is the President? Nigerians ought to know,” he said.
Obi also said that, if elected president in 2027, he would make his whereabouts publicly known whenever he travelled.
“If I travel today, I tell people where I am. When I become President, Charles, people will know where I am 24 hours,” he said
“That is public space, public office,” Obi added.
The comments come amid continuing public debate over the absence of the President and Vice-President from Nigeria.
NEWS
‘Borrowed Funds Not Spent Cannot Be Counted as Debt Left Behind’ – Peter Obi
The presidential candidate of the Nigeria Democratic Congress (NDC) for the 2027 election, Peter Obi, has challenged the way government borrowing is accounted for, arguing that funds borrowed but not actually drawn down should not be treated as debt left behind by an administration.
Obi made the remarks during an interview on Arise TV on Thursday while explaining his position on borrowing during his tenure as governor of Anambra State.
“That is a wrong public accounting. Even if I had gone to bank and borrowed money, but I did not spend the money, you cannot call it debt I left,” Obi said.
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He illustrated his argument with a hypothetical ₦10 billion loan facility, saying that where only ₦500 million was actually drawn, it would be inaccurate to describe the entire ₦10 billion as money owed.
“They gave me a loan of 10 billion Naira, and Charles, I only drew down 500 million. You cannot say I’m owing 10 billion, because you know the amount,” he said.
The NDC candidate said such a practice would amount to improper public-sector accounting.
“That’s why I said it is not proper public sector accounting,” Obi said.
He also cited the former Director-General of the Debt Management Office, Abraham Nwankwo, whom he said served for 10 years, in support of his claim about his borrowing record as Anambra governor.
Obi recalled that Nwankwo invited him to his send-off ceremony and publicly explained why he had selected Obi as chairman of the event.
“He announced it to everybody in that party that the reason why he made me chairman is because I was the only governor in Nigeria who never came to his office for approval to borrow money,” Obi said.
Anambra Debt Controversy
Obi’s comments come against the backdrop of continuing debate over the debt profile he left behind after serving as Anambra State governor from 2006 to 2013.
The former governor has consistently defended his administration’s financial record, while figures and claims about Anambra’s debt during and after his tenure have generated public debate.





