RE: Osun state resolved26 Mar 2025 07:48
10. THE CONCLUSION:
The Committee has conducted an exhaustive examination of the intricate issues arising between
the Osun State Government and Segilola, carefully considering all pertinent evidence, legal
frameworks, and procedural nuances. Our analysis has revealed that many of Osun State's
assertions were not substantiated by robust, legally acceptable evidence, underscoring the need
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for clearer guidelines and processes, particularly pertaining to determining what fair
information is required for tax assessments, the management of the information provided, and
the handling of allegations of arbitrary fees and levies. Importantly, our findings suggest a
potential likely misuse of state apparatus in disputes where the state holds a vested interest,
highlighting systemic flaws that warrant immediate attention.
A significant achievement of the Committee is the successful resolution of the contentious issue
surrounding Osun State's claim to 5,192,869.00 shares in Thor, as well as guidance on
addressing additional claims relating to shares, financial compensations against TML
acquisition by Thor, Community development Agreement and allegations of likely
encroachment on Osun State leases. However, claims concerning environmental levies and a
tax assessment of N3.2 billion were deemed unsubstantiated, pointing toward the necessity for
further dialogue and a structured approach to these discussions.
The Ministry of Mines and Steel Development (MMSD) serves as the principal government
agency responsible for regulating the mining sector in Nigeria.
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