Why I resigned as CIGM boss – Arogundade breaks silence

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Jubril Arogundade, a former senior executive of CIG Motors, has revealed the circumstances surrounding his departure.

He clarified that his departure was voluntary and driven by concerns about corporate governance, not wrongdoing.

Recall that Arogundade resigned on December 2, 2025, citing ongoing concerns with internal controls, financial management, and regulatory compliance.

“I resigned from my position at CIG Motors after careful reflection and in line with due process,” he said.

“It is therefore deeply concerning that my voluntary exit has been publicly mischaracterized. My decision was guided by principle and professional responsibility.”

He added that he had voiced concerns internally for a long time about corporate governance weaknesses, rising debt, and unresolved regulatory requirements, but had not seen substantial corrective action.

“As a Nigerian professional, I take governance, compliance, and institutional responsibility very seriously,” Arogundade said.

“When internal efforts to address these matters did not yield results, I chose to resign rather than compromise on standards that I believe are fundamental to sustainable business.”

Addressing claims linking him to financial misconduct, Arogundade stated, “I have nothing to hide and welcome any lawful, independent, and objective review of my conduct during my tenure. Contrary to public insinuations, no regulatory or law enforcement agency has contacted me regarding these claims, and I remain fully available to cooperate should any legitimate inquiry arise.”

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