April 8, 2025 – Lagos, Nigeria
Chief Pascal Gabriel Dozie, the renowned Nigerian entrepreneur, founder of Diamond Bank, and former chairman of Pan-Atlantic University, has passed away at the age of 86, Njenje Media News reports.
Sources close to the family have confirmed that Dozie succumbed to an old age-related illness earlier today. His death marks the end of an era for Nigeria’s banking and business sectors, where he was a towering figure known for his pioneering contributions.
Born on April 9, 1939, in Egbu village, Owerri, Imo State, Dozie founded Diamond Bank in 1991, transforming it into one of Nigeria’s leading financial institutions during his tenure as CEO until 2006. He handed over leadership to his son, Uzoma Dozie, but remained a guiding force in the industry. Diamond Bank, which became a household name for retail banking and small business support, was acquired by Access Bank in 2019 in a 72 billion naira ($235 million) deal, following financial challenges that led to the closure of at least 57 branches.
Beyond banking, Dozie was a serial entrepreneur with a lasting impact on Nigeria’s corporate landscape. He played a pivotal role in bringing MTN to Nigeria in the early 2000s, helping raise 40% of the funds needed to establish the telecommunications giant’s Nigerian subsidiary. At one point, he served as chairman of MTN Group, later stepping down and being succeeded by Ernest Ndukwe, former boss of the Nigerian Communications Commission (NCC). Dozie was also a founding partner of Africa Capital Alliance and a recipient of prestigious honors, including the National Award of the Order of the Niger (OON), Commander of the Order of the Niger (CON), and the All Africa Business Leader Award (AABLA).
Tributes have flooded social media following the announcement of his passing. @CARLY_BAT wrote, “May his soul rest in peace,” while @AMOSONIJOSEPH reminisced, “Oh Diamond Bank that year😭,” reflecting on the bank’s legacy. @BiolaOlaniyan1 noted, “Each and every one of great men taking roll call since the year birthed! Heaven gained again 👌,” offering condolences to Dozie’s family.
Dozie’s career began as an economist in the United Kingdom, where he worked at the National Economic Development Office and lectured part-time at North Western Polytechnic, London. Returning to Nigeria in 1971, he launched the African Development Consulting Group (ADCG), working with global giants like Nestlé and Pfizer, before venturing into banking. He also served as President of the Nigerian Stock Exchange, cementing his reputation as a boardroom guru.
Pascal Dozie is survived by his wife, Chinyere Dozie, and their five children. His legacy as a trailblazer in Nigerian finance, telecommunications, and education will continue to inspire generations. Funeral arrangements are yet to be announced, but the nation mourns the loss of a visionary whose contributions shaped modern Nigeria.
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