Updated: Meet The Dozie Brothers Who 'Left' Diamond Bank to Start Different Banks
- Uzoma Dozie is the most popular of his siblings, but the others in his family have also shown a desire for banking
- Like Uzoma, Chijioke and Ngozi are running their banking industry projects operating in the fintech ecosystem
- Uzoma went on to launch a digital Microfinance Bank named Sparkle after he left Diamond Bank as its chief executive
They grew up in an environment where banking was all they knew.
From seeing their father, Pascal Dozie, pilot the affairs of one of the most visible banks in Nigeria, Uzoma, Chijioke and Ngozi Dozie, the sons of the erstwhile Diamond Bank and MTN Nigeria chairman, now run separate shows in the banking industry.
Source: UGC
Pascal Dozie founded Diamond Bank
Pascal Dozie founded Diamond Bank in 1990 to provide financial services to underserved communities and support small and medium-sized enterprises in Nigeria, particularly in the southeast.
Under his visionary leadership, Diamond Bank grew from a modest operation into one of Nigeria’s most respected financial institutions.
As the bank’s CEO until 2006 and later as Chairman, Dozie emphasized innovation, professionalism, and customer service.
His leadership helped Diamond Bank expand both locally and internationally.
In 2019, the bank merged with Access Bank, marking the end of an era but cementing Dozie’s legacy as a pioneer in Nigeria’s modern banking landscape.
Diamond Bank merged with Access Bank
Tongues wagged when Access Bank, under the leadership of Uzoma Dozie, took over Diamond Bank, making many believe the Dozies must have sold common patrimony to a stronger competitor.
It is not clear where Chijioke and Ngozi were at the time the landmark decision to hand over their father's sweat, as many would call it, was made.
However, it was clear that Chijioke and Ngozi were invested in banking, like Uzoma, who was taunted for selling their father's inheritance.
Maybe they were led by the desire to cut their teeth in Nigeria's highly competitive banking industry.
The question of whether selling Diamond Bank to Access Bank was the best idea is no longer essential. What's important is that the three siblings are still very much invested in banking, each making giant strides in their personal space.
What are Chijioke, Ngozi, Uzoma Dozie doing?
Chijioke and Ngozi Dozie - Carbon Finance
Carbon Finance, founded by Chijioke Dozie, is in its 12th year with a promise to transform the banking industry.
Digital banks want to make banking more accessible and flexible for customers.
According to the Guardian, Carbon Finance was initially set up as a lending company with over a million users across Nigeria and operates in two African countries.
It began operations in 2012 as One Credit, a consumer lender. In 2016, the firm became a digital lender through its app, Paylater.
Chijioke Dozie, the co-founder and CEO of Carbon Finance, said the company seeks to focus on its customers' needs and adapt to market demands.
Ngozi Dozie, also a co-founder, said that the company's newly launched product gives its customers the flexibility to shop when they want at zero per cent interest rates.
In 2019, the bank processed over $240 million in payments.
Uzoma Dozie - Sparkle MFB
Uzoma Dozie has remained in banking after exiting Diamond Bank as Managing Director/Chief Executive Officer.
Diamond Bank was sold or merged with Access Bank, depending on which side of the divide you belong to.
Uzoma founded Sparkle Microfinance Bank, operating as a fintech company. In October 2021, his latest invention raised $3.1 million to expand operations.
Uzoma told TechCrunch that they do not see their customers from accounts, payments, deposits or credit angles but from how they can help them do what they want to do at any time.
He said the bank wanted to provide Nigerians with financial, lifestyle and business support services.
The bank launched Sparkle Business in April last year to acquire several underserved users from small and medium businesses.
Uzoma Dozie vilified for selling Diamond Bank
Legit.ng reported that Uzoma Dozie, the scion of Paschal Dozie, founder of Diamond Bank and erstwhile chairman of MTN, may have been vilified by a lot of people for selling out or rather squandering generational wealth built by his father.
The acquisition or merger (which many still debate) of Diamond Bank to Access Bank reverberated across the banking world. Many called the younger Dozie a traitor and a squanderer for handing over what his father had created to other people.
This article has been updated by head of business desk, Victor Enengedi, with additional information.
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Source: Legit.ng
