Jubril Arogundade, a former senior executive at CIG Motors, has provided clarification on the circumstances surrounding his departure from the company. Arogundade’s resignation, which was submitted on December 2, 2025, was reportedly voluntary, driven by concerns over corporate governance and not related to misconduct.
In a statement, Arogundade explained that his decision to leave the company was made after careful consideration and in accordance with due process. He expressed concern over the public mischaracterization of his voluntary exit, emphasizing that his decision was guided by principle and a sense of professional responsibility. Arogundade had raised internal concerns regarding corporate governance gaps, growing debt, and unresolved regulatory obligations over a sustained period but did not see meaningful corrective action.
As a Nigerian professional, Arogundade emphasized the importance of governance, compliance, and institutional responsibility. When internal efforts to address these concerns did not yield results, he chose to resign rather than compromise on standards that he believes are fundamental to sustainable business. Arogundade also addressed reports linking him to financial impropriety, stating that he has nothing to hide and welcomes any lawful, independent, and objective review of his conduct during his tenure.
It is worth noting that Arogundade’s resignation came amid concerns over internal controls, financial management, and regulatory compliance at CIG Motors. The company’s response to these concerns and the measures it will take to address them remain to be seen. Arogundade’s statement serves as a reminder of the importance of strong corporate governance and the need for companies to prioritize transparency and accountability.
Arogundade confirmed that no regulatory or law enforcement agency has contacted him regarding the claims of financial impropriety, and he remains fully available to cooperate should any legitimate inquiry arise. The development highlights the need for companies to maintain high standards of governance and compliance, and for executives to prioritize principle and professional responsibility. As the situation unfolds, it will be important to monitor the company’s response and any subsequent actions taken by regulatory agencies.
