CIG Motors sacks director, refers case to EFCC over alleged misconduct
CIG Motors has terminated the appointment of its Executive Director, Jubril Arogundade, following allegations of financial misappropriation and abuse of authority. The company stated that the matter has been referred to the Economic and Financial Crimes Commission for investigation. Jubril Arogundade disputes the company’s account, claiming he resigned voluntarily due to disagreements over governance and financial issues. CIG Motors assured stakeholders that its business operations remain unaffected.
TLDR
- Jubril Arogundade was dismissed by CIG Motors after an internal investigation into alleged financial misconduct.
- The case has been formally referred to the Economic and Financial Crimes Commission for further investigation.
- The company said the probe found conduct below its governance and ethical standards.
- Jubril Arogundade insists he resigned voluntarily, citing concerns over the company’s debt and governance practices.
- CIG Motors emphasized that business operations continue as usual and declined further public comment.
