The founder of the now-defunct Diamond Bank, Pascal Dozie, has been confirmed to have died barely 24 hours to his 86th birthday in the country.
As gathered, the financial expert was pronounced dead by medical experts after losing the battle with an age-related illness.
Speaking on behalf of the family, his son, Uzoma, said that the octogenarian passed on during the early hours on Tuesday.
According to the statement, “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 8th April 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.”
Dozie was widely recognized for establishing Diamond Bank, one of Nigeria’s leading financial institutions before it merged with Access Bank.
He served as the bank’s chairman until he passed on the leadership to his son, Uzoma Dozie.
Also, Dozie played a pivotal role in establishing MTN Nigeria’s presence in Nigeria in the early 2000s.
MTN, a South African telecommunications company, sought to enter the Nigerian market and approached Dozie to help raise 40% of the necessary funds for setting up a subsidiary.
Despite initial challenges in securing investments due to scepticism about the viability of mobile telephony in Nigeria, Dozie successfully mobilized resources for a 20% stake, with MTN covering the remaining 20% through debt funding.
This strategic move contributed to MTN Nigeria’s growth into the nation’s largest telecommunications provider.
Dozie further served as chairman of MTN Nigeria from 2001 until his retirement in 2019, and as of November 2022, he retained a 1.6% stake in MTN Nigeria, valued at approximately $148 million.
He is survived by his wife, Chinyere Dozie, their five children, and other family members.
