The previous performing Managing Director of Lagride and Govt Director at CIG Motors, Jubril Arogundade, has rejected claims by the corporate that his appointment was terminated over alleged {financial} misappropriation.
He insisted that he resigned from the corporate weeks earlier than the general public assertion was issued.
In a rebuttal posted on his Instagram deal with, Arogundade described the corporate’s announcement as “malicious and deceptive,” saying it was designed to wreck his popularity somewhat than current an correct account of occasions.
In keeping with him, the publication adopted his voluntary exit from the corporate after unresolved disagreements over governance, debt administration, and compliance points.
Arogundade said that he formally resigned on December 2, 2025, from his roles as Govt Director of CIG Motors Firm Restricted and Performing Managing Director of Lagride Nigeria Restricted.
He mentioned the resignation was communicated in writing to the management of the corporate, complied with the required discover interval, and clearly said his last working day, including that it was neither disputed nor rejected on the time.
“Any try to painting subsequent occasions as an ‘quick termination’ is due to this fact intentionally deceptive and designed to distort the information,” he mentioned.
In keeping with Arogundade, his resolution to step down adopted extended disagreements arising from issues about CIG Motors’ rising debt profile, weak company governance, and protracted regulatory and tax compliance failures.
Reacting to CIG Motors’ disclosure that points arising from its inside investigation had been referred to the {Economic} and {Financial} Crimes Fee (EFCC), Arogundade mentioned he had not obtained any invitation from the fee.
He, nevertheless, said that he’s keen to cooperate totally with any lawful investigation, stressing that he has “nothing to cover.”
He added that he would welcome any engagement that helps transparency and assists the Federal Authorities in recovering excellent statutory obligations, together with VAT and different tax liabilities, the place relevant.
Arogundade criticised what he described as “trial by media,” accusing the corporate of participating in sensational headlines and public grandstanding lengthy after his resignation.
He mentioned the timing and framing of the publications advised an try to rewrite occasions and deflect consideration from underlying governance and compliance issues.
He categorically denied any wrongdoing and mentioned he reserves the fitting to take authorized motion to guard his integrity {and professional} popularity.
CIG Motors just lately introduced the termination of Arogundade’s appointment, citing alleged {financial} misappropriation and abuse of authority, and disclosed that the matter had been referred to the EFCC.
