CIG Motors Co. Ltd has confirmed the dismissal of Mr. Jubril Arogundade following an internal governance review of executive management practices.

Mr. Arogundade had previously been suspended as the company conducted a structured investigation in line with its governance framework. The review assessed the handling of executive responsibilities and has now been concluded according to the company’s established procedures.

In a statement, CIG Motors’ PR Director, Ifeanyi Abraham, said:

“Matters identified during this investigation have been formally referred to the Economic and Financial Crimes Commission (EFCC). CIG Motors is cooperating fully with the relevant authorities, and all necessary documentation has been submitted through the appropriate legal and regulatory channels.”

The company emphasized its commitment to governance, accountability, and transparency, noting that executive responsibilities across the organisation are guided by these principles.

CIG Motors also highlighted that business operations and customer engagement remain a priority. Its recently concluded Ember Sales campaign offered significant price reductions on select vehicles, marking an important milestone in Nigeria’s automotive market.

Looking ahead, the company plans to launch the New Year Price Takeover, a nationwide initiative aimed at improving vehicle accessibility and reinforcing its ongoing investment in the Nigerian automotive sector.

CIG Motors reaffirmed its dedication to business continuity, customer confidence, and strict adherence to governance standards at all levels.