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Exit of CIG Motors Director Arogundade over fraud: What really went wrong
Exit of CIG Motors Director Arogundade over fraud: What really went wrong
A corporate crisis is unfolding at CIG Motors Co. Ltd as sharply conflicting accounts emerge over the exit of one of its most senior executives, turning what began as an internal governance issue into a potential high-profile financial probe involving the Economic and Financial Crimes Commission (EFCC).
At the centre of the storm is Jubril Arogundade, the company’s former Executive Director, whose departure has exposed deep fractures within the automobile firm’s leadership and raised broader questions about corporate governance, debt management and regulatory compliance in Nigeria’s auto sector.
CIG Motors announced at the weekend that it had terminated Arogundade’s appointment with immediate effect, following what it described as a “comprehensive internal investigation” that allegedly uncovered financial misappropriation and abuse of authority. The company said aspects of the findings had been escalated to the EFCC for further investigation.
According to the company, the decision followed a period of suspension and an internal review which concluded that Arogundade’s conduct fell “significantly below the company’s governance, compliance and ethical standards.”
“This action reflects our zero-tolerance stance on financial misconduct, particularly at senior management level,” the company stated, adding that it was cooperating fully with law enforcement agencies while assuring stakeholders that its operations remain unaffected.
However, the narrative took a dramatic turn hours later as Arogundade publicly rejected claims that he was sacked, insisting instead that he voluntarily resigned weeks before the company’s announcement.
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In a detailed statement, Arogundade said he formally tendered his resignation on December 2, 2025, from both CIG Motors and its subsidiary, Lagride Nigeria Limited, citing irreconcilable disagreements over the company’s financial direction and governance practices.
He described the company’s announcement of his “immediate termination” as misleading and a deliberate attempt to rewrite events.
“My resignation followed serious concerns about a growing debt profile, weak corporate governance and persistent compliance failures,” he said, adding that these issues were repeatedly raised internally without resolution.
More strikingly, Arogundade alleged that longstanding tax compliance issues under the chairmanship of Ms Diana Chen had attracted enforcement action by tax authorities, including a reported warrant of distraint involving sums running into several billions of naira—claims the company has not publicly addressed.
While denying any wrongdoing, the former executive said he was not afraid of scrutiny and would cooperate fully with any lawful investigation by the EFCC, though he maintained that he had not received any invitation from the anti-graft agency.
Until recently, Jubril was widely regarded as the chairman and CEO’s trusted lieutenant, enjoying broad latitude to operate and drive major deals. Several key transactions were initiated and executed under his watch, with CEO Diana Chen often stepping in only at the final stage to ratify decisions already concluded.
Having served for years as General Manager, Jubril was long tipped to emerge as Managing Director when the position became vacant. That expectation, however, proved short-lived. Instead of an elevation, he was appointed Executive Director — a move that, at the time, was seen as cementing his future within the company.
That sense of security unravelled as disputes began to surface involving the company, its customers and business partners, culminating in the dramatic exit of the Executive Director amid allegations of financial impropriety.
Beyond the immediate dispute over whether his exit was a resignation or a termination, analysts say the episode underscores deeper governance tensions within the company. Sources familiar with the internal probe said investigators examined multiple transactions and management decisions that allegedly breached internal controls, though specific details remain under wraps due to the ongoing referral to authorities.
CIG Motors has declined further public commentary, saying the matter is now before relevant agencies.
But with allegations and counter-allegations now firmly in the public domain, the unfolding saga appears set to test not only the company’s internal controls but also the credibility of its leadership narratives.
As regulators weigh the issues placed before them, the CIG Motors case is shaping up as a cautionary tale of how boardroom disputes, when entangled with claims of financial misconduct, can quickly escalate into a full-blown corporate and reputational crisis.
Exit of CIG Motors Director Arogundade over fraud: What really went wrong
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Carloha shakes up pickup market with launch of heavy-duty Chery Himla
Carloha shakes up pickup market with launch of heavy-duty Chery Himla
Carloha Nigeria has officially unveiled the Chery Himla pickup in Nigeria, marking the brand’s entry into the country’s highly competitive pickup segment with a bold focus on productivity, durability and business efficiency.
The launch, held at Orange Island, Lekki, Lagos on February 19, 2026, positions the Himla not merely as a utility vehicle but as a high-performance mobile business asset tailored for commerce, agriculture, logistics, security operations and regional trade.
Speaking at the event, Managing Director of Carloha Nigeria, Mr. Sola Adigun, described the unveiling as a significant milestone for the company and Nigerian entrepreneurs.
“Today’s launch represents a key milestone, with Himla engineered to enhance efficiency and productivity for security outfits, farmers, logistics operators, entrepreneurs and others,” he said.
Built for Bigger Load, Fewer Tripsĺ
At the heart of the Himla’s appeal is its class-leading 1,276-litre cargo bed (1,530 mm × 1,620 mm × 515 mm), designed to accommodate standard industrial pallets and enable what the company describes as “one-trip loading.”
Its optimised chassis and suspension design minimise wheel arch intrusions, creating a flatter and more practical loading surface.
Integrated side and rear steps simplify loading and unloading, helping businesses improve turnaround time in demanding work environments.
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Built on a high-strength ladder frame with reinforced rear-spring suspension, the Himla offers a rated payload exceeding 1,000 kg while maintaining stability under heavy loads.
It also boasts a 3-ton towing capacity, positioning it as a strong contender for hauling equipment, refrigerated containers and other heavy-duty applications across logistics, construction and agriculture.
Engineered for Nigerian Terrain
Designed with Nigeria’s diverse road conditions in mind, the Himla features advanced 4×4 capability and 265 mm ground clearance to tackle rough job sites and rural terrain with confidence.
Carloha says the pickup is engineered for durability in high temperatures and humid environments, incorporating wear-resistant and anti-corrosion materials, galvanised steel components and high-strength body panels. Multiple heavy-duty anchoring points ensure cargo stability even on uneven surfaces.
The vehicle is available in ICE variants and comes equipped with premium leather seats, a 15.6-inch central touchscreen, a 9.2-inch digital dashboard display and enhanced rear-seat comfort. Higher-end models feature advanced driver assistance systems.
Real-World Test Drive
Motoring journalists, customers and automobile enthusiasts at the launch event had the opportunity to test-drive the Himla across simulated terrains.
The demonstration highlighted its 4×4 capability, hill approach and descent angles, towing strength, load stability, water-wading ability, in-cabin quietness and overall ride comfort.
General Manager, Marketing at Carloha Nigeria, Mr. Felix Mahan, described the Himla as a cornerstone of Chery’s global pickup strategy.
He said the model combines “class-leading cargo capacity, hardcore load capability, advanced technology and climate-adapted engineering” to serve Nigerian entrepreneurs as a reliable business partner.
Backed by a class-leading six-year warranty, the Himla enters the Nigerian market with a strong value proposition.
With its unveiling, Carloha is betting that Nigeria’s evolving economy will increasingly demand pickups that do more than transport goods — vehicles designed to power productivity, cut operational costs and drive enterprise growth.
Carloha shakes up pickup market with launch of heavy-duty Chery Himla
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ABC Transport reaffirms commitment to safety as Driver Training Academy graduates 137
ABC Transport reaffirms commitment to safety as Driver Training Academy graduates 137
The Driver Training Academy (DTA), a subsidiary of ABC Transport, held its graduation ceremony recently during which no fewer than 137 driver trainees received the institute’s highly regarded certificates.
A statement by the company quoted the Group Managing Director of ABC Transport, Mr Jude Nneji, as emphasizing the importance of professionalism, discipline, and continuous learning in the transport industry.
He stated this while delivering the keynote address, reiterating the organisation’s commitment to maintaining high safety standards and investing in structured driver development.
Representatives of the Federal Road Safety Corps and NABTEB also delivered goodwill messages, commending the academy for its dedication to quality training and road safety excellence.
Tge graduation held on February 10, 2026, at the academy’s premises in Owerri, was a well-attended and colourful event that celebrated excellence, discipline, and professional development within the transport industry.
The ceremony attracted several distinguished guests who graced the occasion in support of the academy and its graduating students.
Among the dignitaries present were HRH Eze Sir Boniface Ariri, Eze Udo IV of Obibi Uratta, Owerri North LGA, Imo State; Christiana Okey–Egwuumba, National Business and Technical Examinations Board (NABTEB) State Coordinator; and Onuegbu Vincent Onyekachi, a NABTEB personnel.
Also present were CRC A.C. Njemanze, Federal Road Safety Corps (FRSC) Sector Command Representative; ARC Q.C. Nwokon, FRSC Sector Command Representative; and ASP R.O. Abang, Representative of the DPO, Toronto, Uratta.
A major highlight of the ceremony was the presentation of DTA and NABTEB certificates to the graduating students by the Group Managing Director, assisted by representatives from FRSC, NABTEB, and the Deputy Managing Director.
The successful graduation ceremony reinforces the Driver Training Academy’s unwavering commitment to producing competent, safety-conscious, and professionally trained drivers, further strengthening ABC Transport’s culture of excellence and road safety.
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The Beast Goes Hybrid: Jetour G700 Unleashes 900HP Fury
The Beast Goes Hybrid: Jetour G700 Unleashes 900HP Fury
Forget everything you thought you knew about “sensible” hybrids. The Jetour G700 has arrived—and it didn’t just enter the room; it kicked the door down, waded through a river, and parked itself on the throne of the premium SUV world.
If a luxury penthouse and a monster truck had a high-tech love child, this would be it.
Design: The Art of Intimidation
At first glance, the G700 stands as a monolith of modern engineering. Measuring nearly 5.2 meters in length, its silhouette defines what can only be described as “Boxy Chic.”
With a towering stance, matrix LED headlights, and a grille bold enough to swallow a lesser hatchback whole, the G700 commands respect even before the key fob is pressed.
It doesn’t just have road presence—it has its own gravitational pull.
Performance
Beneath its shimmering paintwork lies the Kunpeng Super Hybrid CDM-O system—a 2.0L turbocharged engine paired with dual electric motors delivering a staggering 904 horsepower and 1,135 Nm of torque.
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0–100 km/h: 4.6 seconds (in a vehicle this size)
Total Range: 1,400 km
Wading Depth: 970 mm
While others check the weather forecast, you’re essentially piloting a luxury submarine.
Whether executing a “Tank Turn” across dunes or cruising silently at highway speeds, the adaptive suspension and triple differential locks ensure complete dominance over any terrain.
The Interior: A First-Class Flight for Six
Step inside and the rugged exterior gives way to ultra-luxurious serenity. Dominating the dashboard is a 35.4-inch 3K panoramic display—a sweeping digital horizon that makes most home televisions look outdated.
It’s not just a cabin; it’s a sanctuary. From Nappa leather massage seats to an 18-speaker Lexicon audio system with Dolby Atmos, every detail is crafted to shield occupants from the chaos outside.
The “Wow” Features
Military-Grade Assistance: Selected editions feature rear turboprops delivering 3,000 N of additional thrust for extraction from deep mud.
On-Board Fridge: A built-in drawer capable of chilling champagne to -6°C or keeping espresso warm at 50°C.
Oxygen Generator: For high-altitude adventures, the G700 provides an external oxygen supply to support occupants’ health.
The Verdict
The Jetour G700 is more than a vehicle—it is a statement of intent. It eliminates the need to choose between the rugged capability of a desert explorer and the refinement of a limousine.
It reigns as the king of the “Travel+” philosophy, designed for those who want to explore the world without sacrificing comfort.
The established luxury titans should be very, very nervous.
A statement by Jetour Nigeria lists the accredited dealers for vehicle as Elizade Nigeria Limited, New Era AutoVehicle Services Ltd, Kojo Motors, Germaine Auto Centre, Tab Autos Ltd, R.T. Briscoe Motors, and Mandilas Motors.
The Beast Goes Hybrid: Jetour G700 Unleashes 900HP Fury
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