Jubril Arogundade, who stepped down from his role on December 2, 2025, said his decision followed prolonged internal engagements over what he described as persistent weaknesses in internal controls, financial management practices, and regulatory compliance within the organisation. According to him, the move was taken after careful reflection and in line with established professional and corporate procedures.
Reacting to narratives circulating in the public space, Arogundade expressed concern that his exit had been mischaracterised, stressing that his resignation was driven by principle and a sense of professional responsibility. He noted that portraying his departure otherwise undermines the ethical basis of his decision.
He explained that over an extended period, he consistently raised red flags internally regarding gaps in corporate governance, rising debt exposure, and unresolved regulatory obligations. However, he said these concerns did not result in the level of corrective action required to safeguard the company’s long-term sustainability.
Emphasising his stance on ethical leadership, Arogundade said governance, compliance, and institutional responsibility are non-negotiable values in professional practice. He added that when internal efforts failed to address the issues raised, resigning became the most responsible course of action rather than remaining in a system that conflicted with those standards.
Addressing reports linking him to alleged financial impropriety, Arogundade firmly denied any wrongdoing, stating that he has not been contacted by any regulatory or law enforcement agency regarding such claims. He maintained that he has nothing to conceal and is open to any lawful, independent, and objective review of his conduct during his time at the company.
The clarification comes as conversations around corporate accountability and executive responsibility continue to gain prominence, particularly within Nigeria’s private sector, where governance practices remain under increasing public scrutiny.