Aliko Dangote, President Dangote Group
Billionnaire businessman, Aliko Dangote has resigned from the board of Dangote Flour Mills which recently became Tiger branded Consumer Goods Plc. Three other directors, Olakunle Alake, Asue Ighodalo and Arnold Ekpe also quit the board.  Their resignation was announced following the decision of the majority share owner of the company, South African Tiger Brands,  to reduce its financial support to the Nigerian company. There are reports that the Tiger Brands also made the decision due to their  inability to make money from Dangote Flour Mills after committing about 200 million dollars or 65 per cent equity
“Tiger Brands has decided not to provide further financial support with respect to its investment in Tiger Branded Consumer Goods Plc of Nigeria,” the company stated.
Aliko Dangote holds 10 percent equity stake in the company.
Tiger Brands board also announced that they were reviewing their investment in the business which was considered part of a broader strategy to expand in sub-Saharan Africa.