Table of Contents
- Clarification of Departure
- Voluntary Exit
- Concerns Over Corporate Governance
- Response to Financial Impropriety Claims
Jubril Arogundade, the former senior executive of CIG Motors, has provided clarification regarding the circumstances of his departure from the company.
He stated that his exit was voluntary and driven by concerns about corporate governance, rather than any misconduct.
It is noteworthy that Arogundade resigned from his position on December 2, 2025, citing ongoing issues with internal controls, financial management, and regulatory compliance.
“I stepped down from my role at CIG Motors after careful consideration and in accordance with due process,” he remarked.
“It is therefore troubling that my voluntary resignation has been incorrectly portrayed in public discussions. My decision was based on principles and professional accountability.”
He elaborated that over an extended period, he had raised concerns internally regarding gaps in corporate governance, increasing debt, and unmet regulatory obligations but did not observe any significant corrective measures being taken.
“As a Nigerian professional, I regard governance, compliance, and institutional accountability with utmost seriousness,” Arogundade commented.
“When internal attempts to address these issues failed to produce results, I opted to resign rather than compromise on standards that I consider essential for sustainable business practices.”
In response to reports associating him with financial impropriety, Arogundade stated, “I have nothing to conceal and welcome any lawful, independent, and objective examination of my actions during my time in office. Contrary to public speculation, no regulatory or law enforcement agency has reached out to me regarding these allegations, and I remain entirely willing to cooperate should any legitimate inquiry occur.”
What were the reasons for Jubril Arogundade's resignation from CIG Motors?
Arogundade's resignation was voluntary and motivated by concerns over corporate governance, including issues with internal controls, financial management, and regulatory compliance.
Did Arogundade face any allegations of financial misconduct?
Arogundade has stated that he has nothing to hide regarding his conduct during his tenure and that no regulatory or law enforcement agency has contacted him about any claims of financial impropriety.
Eze Chidiebere Paul
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