Jubril Arogundade, a former senior executive at CIG Motors, has clarified the circumstances of his departure. He submitted his resignation on December 2, 2025, stating that it was voluntary and driven by concerns over corporate governance rather than any misconduct. In a statement, Arogundade said his decision was made after careful consideration and in accordance with due process. He expressed frustration at the public’s mischaracterization of his exit, emphasizing that his choice was guided by principle and professional responsibility.
During his tenure, Arogundade raised internal concerns about gaps in corporate governance, rising debt, and unresolved regulatory obligations. He argued that, despite sustained efforts, meaningful corrective action was not taken. As a Nigerian professional, he underscored the importance of governance, compliance, and institutional responsibility. When internal attempts to address these issues failed, he chose to resign rather than compromise on standards he believes are essential for sustainable business.
Arogundade also addressed reports linking him to financial impropriety, stating he has nothing to hide and welcomes any lawful, independent, and objective review of his conduct. He confirmed that no regulatory or law‑enforcement agency has contacted him regarding these claims and that he remains fully available to cooperate with any legitimate inquiry.
His resignation came amid broader concerns about internal controls, financial management, and regulatory compliance at CIG Motors. The company’s response to these issues and the measures it will implement remain uncertain. Arogundade’s statement serves as a reminder of the importance of strong corporate governance and the need for companies to prioritize transparency and accountability. As the situation unfolds, monitoring the company’s response and any subsequent regulatory actions will be essential.
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