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Monday, 16 November 2015

Aliko Dangote, three other directors resigns from Dangote Flour Mill

Aliko Dangote and three other directors have resigned from the board of Dangote Flour Mills after majority shareholder of Flour Mill, Tiger Brands, cut funding support to its struggling Nigerian division today November 16th.

According to Reuters, South Africa's Tiger Brands said it was 'currently exploring various alternatives with regard to its investment in Dangote Flour Mills". Aliko Dangote holds 10 percent of the company's equity through Dangote Industries. The other directors who resigned along with Dangote are Olakunle Alake, Asue Ighodalo and Arnold Ekpe.

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