CIG Motors Company Limited has officially terminated the employment of one of its top executives, Mr. Jubril Arogundade, following an internal investigation that uncovered serious allegations of financial wrongdoing and abuse of power.
Internal Investigation Uncovers Misconduct
The company, in a statement released on Monday, 5 January 2026, detailed that Mr. Arogundade was initially suspended before undergoing a formal internal review. This process was conducted in strict adherence to the firm's established corporate governance and disciplinary protocols.
The findings from this structured probe were severe. The investigation established clear evidence of financial misappropriation and an abuse of executive authority by the former official. The gravity of the discoveries led the company's management to take the decisive step of removing Mr. Arogundade from all his positions within the organization with immediate effect.
Case Formally Referred to Anti-Graft Agency
In a significant move underscoring its commitment to legal accountability, CIG Motors has formally escalated the matter to Nigeria's primary anti-corruption body. The company has referred all issues relating to the financial impropriety to the Economic and Financial Crimes Commission (EFCC) for further investigation and potential prosecution.
The automaker stated that it has submitted all pertinent documents through the proper legal channels and is cooperating fully with the authorities. The firm's Public Relations Director, Mr. Ifeanyi Abraham, signed the official statement confirming these actions.
Zero-Tolerance Stance and Business Continuity
CIG Motors used the announcement to reiterate its uncompromising position on governance breaches. The statement emphasized that executive responsibility within the group is built on the pillars of accountability, transparency, and institutional discipline.
"CIG Motors maintains a zero-tolerance position on breaches of governance," the company declared, adding that all actions taken followed due process and the rule of law.
Despite the internal upheaval, the management assured stakeholders that the development does not affect its ongoing commercial operations. The company highlighted the recent conclusion of its successful "Ember Sales" campaign, which it claims offered record discounts of up to 50 percent on select models in the Nigerian market.
Building on that momentum, CIG Motors announced plans to launch a "New Year Price Takeover" initiative nationwide, described as its first major market activation for the year. The company asserts that business continuity, customer confidence, and institutional integrity remain its top priorities.
