A financial scandal has rocked CIG Motors Co. Ltd following the termination of the appointment of its Executive Director, Jubril Arogundade, over allegations of financial misappropriation and abuse of authority.

The company confirmed that the matter has been formally referred to the Economic and Financial Crimes Commission for further investigation.

According to PUNCH Newspaper, CIG Motors announced the immediate termination of Arogundade’s appointment, citing the outcome of an internal investigation.

The company said the decision followed a period of suspension and a “comprehensive internal review” into his conduct while in office. The automobile company said, “The findings of the investigation revealed conduct that fell significantly below the company’s governance, compliance, and ethical standards.

“In view of the seriousness of the issues uncovered, management approved the immediate termination of his appointment.”

CIG Motors further disclosed that aspects of the investigation involving alleged financial impropriety have been escalated to law enforcement authorities. “Matters connected to financial misconduct arising from the investigation have been formally referred to the Economic and Financial Crimes Commission.”

The firm further stated that it is “cooperating fully with the authorities as the matter progresses through the appropriate legal and regulatory channels.”

The company stressed that the action taken against the former executive reflects its firm position on ethical conduct. “CIG Motors maintains a zero-tolerance stance on financial misconduct and abuse of authority, particularly at the senior management level. Safeguarding institutional integrity and protecting stakeholder interests remain central to our operations.”

Sources within the company said the internal probe examined several transactions and management decisions that allegedly breached established internal controls. While the company declined to provide details, it noted that the process was thorough and guided by its internal governance framework.

CIG Motors also sought to reassure customers, partners, and investors that the development would not disrupt its business. “Operational continuity across the business remains unaffected,” the company said, emphasising that day-to-day activities are proceeding normally despite the Managing Director’s dismissal.

“We will not engage in further public commentary on this matter as it is now before the relevant authorities,” the statement added.

When contacted for his response, Arogundade dismissed reports claiming he was sacked from his position, insisting that he voluntarily resigned on December 2, 2025. He described the reports as misleading and a distortion of the facts surrounding his exit.

Explaining his decision, Arogundade said his resignation followed prolonged and fundamental disagreements over the company’s financial and governance direction.

He added that, “My resignation followed serious concerns about the company’s growing debt profile, weak corporate governance practices, and persistent compliance failures, despite internal safeguards and repeated warnings.”

He stated that he chose to step aside after his concerns were repeatedly raised without meaningful resolution. He further disclosed that longstanding tax compliance issues under the chairmanship of Ms Diana Chen had resulted in enforcement actions by tax authorities, including a reported warrant of distraint involving sums running into several billions of naira.

These issues, he said, were among those that generated deep internal concern. Arogundade also maintained that he is not afraid of any investigation, stressing that while he has not been invited by the EFCC, he is fully willing to cooperate with any lawful inquiry.

Kaduna-based Islamic cleric, Sheikh Ahmad Gumi, has claimed that he was informed he had been listed for elimination as a Boko Haram figure on the same morning a US military air strike occurred in Nigeria.

In a video published on his Facebook page, Gumi criticised foreign military involvement in Nigeria, arguing that such interventions worsen insecurity rather than resolve it.

“There was a bombing here; the morning it happened, I received a call—I won’t tell you who called me—but I was told a security briefing was taking place and I was listed among those who would be eliminated as Boko Haram,” Gumi said.

“They claim to have come here to fight terrorists, but they are the actual terrorists.”

The cleric also questioned the response of northern political and religious leaders to repeated attacks by Boko Haram and ISIS-linked groups, expressing frustration over what he described as silence and inaction.

“Where are your leaders and what have they done about it?” Gumi asked.

He also criticised religious scholars, accusing them of failing to address false claims made by terrorists.

Gumi added that foreign support for Nigeria in the war against terrorism must not be restricted to Christians alone.

“They attacked us for false claims, and they give support of a certain amount of money to Christians alone. No country will accept that. Either you give support to the entire nation, or we don’t need it,” Gumi said.

“Nobody is talking; they are all afraid to talk. That’s the situation we are in this country.”

On December 25, 2025, the United States carried out air strikes against members of the Islamic State West Africa Province (ISWAP) in Sokoto.

The operation came weeks after US President Trump warned that the US would go into Nigeria “guns-a-blazing to wipe out the terrorists killing Christians”.

Former world heavyweight boxing champion Anthony Joshua has made his first social media post since a fatal car accident in Nigeria that claimed the lives of two close friends and team members.

Joshua sustained minor injuries in the incident that killed his friends, Sina Ghami and Latif “Latz” Ayodele, on Monday, December 29, on the Lagos–Ibadan Expressway.

The 36-year-old boxer, who was discharged from the hospital on New Year’s Eve, returned to the United Kingdom on Saturday.

He made his first public comment since the accident in a post across his social media handles on Sunday.

Joshua shared the post, pictured alongside the families of Sina and Latz, with the caption “My Brother’s Keeper ❤️🕊️❤️.”

Anthony Joshua poses with the families of deceased friends. Source: Instagram | Joshua

The image, posted across his social media pages, shows the ex-heavyweight champion offering support and solidarity.

Both Sina and Latz will be laid to rest later on Sunday (today).

The accident occurred when Joshua’s SUV, carrying the boxer and three others, collided with a stationary truck due to reported brake failure.

Joshua, who had just arrived in Nigeria for a holiday following his recent knockout victory over Jake Paul, narrowly escaped death after switching from the front passenger seat to the back moments before the impact, a move prompted by his size obstructing the driver’s view.

He sustained a leg fracture but was reported to be in stable condition without needing emergency medical intervention.