Diamond Bank Founder Pascal Dozie Dies at 85

Pascal Dozie, the founder of the now-defunct Diamond Bank and one of Nigeria’s most prominent businessmen, has died at the age of 85. His death was confirmed by sources close to the family on Monday, April 8, 2025. Details surrounding the cause of death have not yet been publicly disclosed.

Dozie was widely regarded as a pioneering figure in Nigeria’s banking and telecommunications industries. He founded Diamond Bank in 1990 and served as its CEO until 2006. Under his leadership, the bank grew from a small-scale operation into one of the leading financial institutions in the country before its eventual merger with Access Bank in 2019.

In addition to his achievements in banking, Dozie was instrumental in the development of Nigeria’s telecom sector. He was a founding board member and later chairman of MTN Nigeria, playing a major role in bringing mobile communication to millions across the country. His leadership helped establish MTN as Nigeria’s largest telecommunications company.

Dozie’s business career spanned decades, during which he became known for his visionary approach, commitment to local enterprise, and emphasis on integrity. Born on April 9, 1939, in Egbu, Owerri, Imo State, he studied economics at the London School of Economics and later earned an MBA from the City University in London.

Returning to Nigeria in the early 1970s, he worked as a consultant before entering the banking industry. In founding Diamond Bank, Dozie aimed to provide better financial access to underserved communities and small businesses, at a time when commercial banking was dominated by foreign and government-owned institutions.

His influence went beyond the corporate world. Dozie served on several public and private sector boards and advisory committees, contributing to economic development and financial reforms in Nigeria. He was also involved in various philanthropic efforts, particularly in education and youth empowerment.

In recognition of his contributions, Dozie received numerous awards and honors throughout his lifetime. He was a recipient of the national honor, Commander of the Order of the Niger (CON), and was frequently listed among Nigeria’s most respected business leaders.

Many prominent figures and institutions have begun to react to the news of his death. Tributes have poured in from financial institutions, political leaders, and business executives who described him as a mentor and a pillar of the Nigerian economy. Former colleagues remembered him as a thoughtful leader who was deeply committed to ethical business practices and national development.

His legacy continues through his family, many of whom have followed in his footsteps in business. His son, Uzoma Dozie, also served as the CEO of Diamond Bank until its merger with Access Bank, and is now active in Nigeria’s fintech space.

Pascal Dozie’s death marks the end of an era for Nigeria’s financial and entrepreneurial landscape. As tributes continue to emerge, many are reflecting on the long-lasting impact he had on Nigeria’s economy and the lives of countless Nigerians through his work in banking, telecom, and philanthropy.

Funeral arrangements are expected to be announced by the family in the coming days.