Photo caption: The founder of the defunct Diamond Bank Plc and a former chairman of MTN Nigeria, Pascal Dozie
Stakeholders in the banking sector are paying tributes to the late founder of Diamond Bank, Pascal Dozie, who died on Tuesday, April 7, 2025.
According to a statement issued by the family on Tuesday, the business tycoon passed on in the early hours of the day at the age of 85.
The statement from his son, Uzoma Dozie, who represents the family, reads, “With deep sorrow, but with gratitude to God for a life well spent, we announce the passing of our beloved father, Pascal Gabriel Dozie, on April 8, 2025.
“He was a devoted husband, father, grandfather, and a man of unwavering Catholic faith. His life was marked by service to God, his family, and his country. He is survived by his loving wife, Chinyere; his children; grandchildren; and all who were blessed to know him.
“We thank God for the gift of his life and the legacy he leaves behind. May his soul rest in perfect peace.”
Speaking with The PUNCH, the immediate past president of the Chartered Institute of Bankers of Nigeria, Ken Opara, credited Dozie with the revolution of the retail banking sector in Nigeria.
Opara said, “He did well. He was one of the people who revolutionised banking; retail banking development is majorly what you can attribute to him. He was also been able to mentor a lot of people, including myself.
“Late Paschal Dozie remains an icon in the banking industry. He was very meticulous and forthright. He had always maintained that there is no shortcut in banking.
He also brought dynamism into banking and was among those who created the new generation of banks in Nigeria. He founded the then-Diamond Bank, which became a leading retail and digital bank in Nigeria. His vision lives on. May his soul rest in peace.”
Chief Economist/Managing Editor, Proshare Nigeria, Teslim Shitta-Bey, described the late bank founder as a “quintessential economist and banker forged in the furnaces of insight, foresight, and hindsight. He saw society and banking beyond the narrow prisms of younger professionals of today; he saw finance as a calling, a complex concentration of brainpower on the challenges of financing continental growth.
“In a certain fundamental sense, he was a developmental philosopher who saw the forest beyond the tree. He was dapper, technically brilliant, and socially responsible. The world will miss Dr. Dozie, an incredible banker but, more importantly, a financial thinker with a cause.”
The Chief Executive Officer of BIC Consultancy Services, Boniface Chizea, went down memory lane to highlight the contributions of the late Dozie to the banking sector.
“In the banking sector, Pascal’s had giant footprints. He was one of the few Nigerians privileged to have cut their teeth in banking due to exposure to reputable multilateral international financial organisations. He was the Chairman of Imo State Progress Bank during which period the bank made considerable progress. It is on record that he is one of those privileged to have established a promising indigenous bank, the Diamond Bank, with branch networks across the length and breadth of Nigeria. He was passionate about the role the private sector could play in collaboration with the public sector for the attainment of much-desired rapid growth and development of Nigeria.”
The former banker added that the deceased had “a firm, reassuring voice as he played the role of an advocate in this regard and was, for that, recognised and rewarded by the government with a national honour. He has gone the way of all mortals, but he has left bold footprints on the tapestry of the Nigerian banking and economic environment. His departure has cost us the valued insights of a veritable icon. May God rest his soul in peace. Amen.”
A former minister, Frank Nweke, expressed sadness at Dozie’s demise.
On his LinkedIn page, Nweke said, “Deeply saddened by the passing of Mr. Pascal Dozie – visionary entrepreneur, former central banker, philanthropist, and founder of Diamond Bank – just a day before his 86th birthday.
“As a founding member of the Nigerian Economic Summit Group, he was deeply committed to good governance and Nigeria’s economic progress.”
The founder of Healthcap Africa, Dr Ola Brown, also eulogised Dozie via her LinkedIn page, “The late Pascal Dozie was a trailblazer and an icon in the Nigerian banking industry, leaving an indelible mark on the sector.
“As a visionary leader, he embodied a strong work ethic and a relentless drive to succeed. His legacy extends far beyond his impressive achievements, as he inspired and mentored countless individuals who worked with him at Diamond Bank. Through his leadership, many were trained and developed in critical areas such as credit management, enabling them to build successful careers and provide for their families.
“Today, his impact continues to be felt, not only through his family but also through the numerous lives he touched and transformed. May his memory be a blessing to us all.”
Dozie was born on April 9, 1939, in Egbu, Owerri, Imo State, and raised in a Catholic home, with his father, Charles Dozie, serving as a catechist.
PUNCH
