Former Executive Director of CIG Motors Company Limited and Acting Managing Director of Lagride Nigeria Limited, Jubril Arogundade, has publicly challenged a recent statement by the automobile firm which announced his “immediate termination” and alleged serious governance breaches.
In a detailed press rejoinder circulated on social media, Arogundade described the company’s claims as “malicious, misleading, and clearly intended to harass, intimidate, and damage my reputation,” insisting that he had resigned weeks before the statement was released.
According to Arogundade, he formally tendered his resignation on December 2, 2025, in line with the required notice period, clearly stating his final working day. He said the resignation was duly communicated to the company’s leadership and was neither rejected nor disputed at the time.
“Any attempt to portray subsequent events as an ‘immediate termination’ is therefore deliberately misleading and designed to distort the facts,” he stated.
The former executive said his decision to step aside followed prolonged disagreements over what he described as deepening financial and governance challenges within the organisation. He cited concerns about “continuous borrowing without proper debt management structures,” weak corporate governance practices, and unresolved regulatory and tax compliance issues.
Arogundade further alleged that longstanding tax compliance problems under the chairmanship of Ms. Diana Chen had resulted in enforcement actions by tax authorities, including the issuance of a warrant of distraint for sums he said reportedly run into several billions of naira.
“These matters were among the issues that generated serious internal concern and disagreement,” he said, adding that he chose to resign rather than remain associated with practices he could no longer “responsibly defend.”
Responding to the company’s disclosure that issues of financial impropriety had been referred to the Economic and Financial Crimes Commission (EFCC), Arogundade said he was not afraid of any investigation and had nothing to hide.
“I state clearly and unequivocally that I am not afraid of any investigation, including by the Economic and Financial Crimes Commission,” he said.
“While I state emphatically that I have not received any invitation from the Commission, I am fully willing and prepared to cooperate with any lawful investigation, if invited.”
He also criticised what he described as a resort to “trial by media,” accusing unnamed parties of attempting to rewrite the narrative through sensational headlines rather than due process.
“The timing and framing of the said publications suggest a calculated attempt to rewrite the narrative and deflect attention, rather than to tell the truth,” he said.
Arogundade categorically rejected any insinuation of wrongdoing and disclosed that he had instructed the law firm of Chikaosolu Ojukwu (SAN) to issue cease-and-desist notices to media organisations and individuals he accused of spreading falsehoods.
“I remain committed to transparency, accountability, and lawful conduct. I am confident that when the full facts are properly examined, the truth will be clear,” he added, urging the public and the media to seek facts and avoid sensationalism.
CIG Motors, in its earlier public statement, had announced that Arogundade was terminated following internal investigations which allegedly uncovered “serious governance breaches, including financial misappropriation and abuse of authority,” and said the matter had been referred to the EFCC.
