GOV ADEKEKE CLEARS AIR ON WAR WITH THORS EXPLORATION RESOURCES OPERATING Ltd, SAYS COMPANY HAS N3.25 bn TAX LIABILITIES

 

THE Osun State Governor, Ademola Adeleke has released a statement on the tax dispute between it and the sister company of Segilola Operating Resources  Limited based in the United Kingdom, Thors Exploration Limited.

In a Press Release signed by the Spokesperson to the Governor of Osun State, Malam Olawale Rasheed available to SOJ WORLDWIDE, the Governor said he welcomes the Federal Intervention to clarify Osun Government position on the tax dispute with Thors.

Governor Ademola Adeleke said the state opened discussions with the mining company since 2023 without any tangible results.  He added that “Segilola Resources Operating Limited has an accumulated tax liabilities of N3.25 Billion with a Demand Notice issued in April, 2024.”

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“Governor Ademola Adeleke has welcomed the intervention of the Federal Ministry of Mines on the state’s tax disputes with Thors Explorations Limited, clarifying that the state has validated claims within the context of the Constitution and extant laws.

The Governor who had earlier reached out  to the Minister of Mines, Dele Alake on phone said the state supports all efforts to drive Foreign Direct Investment into Nigeria but said investors have a duty to be transparent, obey local laws and protect the environment from degradation.

Explaining that the state government had opened discussions and negotiations with Thors Exploration since 2023 without any results, the Governor said Segilola Resources Operating Limited has an accumulated tax liabilities of N3.25 Billion with a Demand Notice issued in April, 2024.

 

The Governor who said Osun has the legal rights to collect tax liability also noted  that Thors Explorations was operating six other companies on the site without disclosure to the state government for tax and environmental accountability purposes.

 

He listed the companies as follows;  SINIC Engineering Limited, ATF Consulting Limited, Monument Nigeria Limited,  Rabaa Cleaning Limited, Deep Rock Drilling Services and CEFO Security Limited.

The Governor submitted further that Thor Exploration Limited confirmed  that Osun 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.

While lamenting the extensive environmental degradation occasioned by Thors’ mining activities in Osun state, Governor Adeleke said the company has a duty to pay for environmental reclamation even as the environment is on the concurrent legislative list.

“Osun state has a robust partnership with the Federal Ministry of Mines. Our state has several mining licenses. So we are critical stakeholders with a deep understanding of the laws and the constitution. Our action is to get what is due to our state as affirmed by extant laws and practices.

 

“We have a robust ease of doing business environment and we have several investors in various sectors of our state economy. We are only opposed to lack of transparency and accountability in the operation of the mining sector. Local laws must be respected and obeyed as is the practice in Europe and North America and the environment must be reclaimed.

“So we look forward to receiving the Federal fact finding team. We have prepared our position. Thors cannot hide under mining being on exclusive legislative list to avoid local tax, deny shareholders their rights and violate our environment with impunity”, the Governor was quoted as saying.”