By Mike Abbah
The Group Managing Director of Afrinvest, Ike Chioke, has described the late Nigerian entrepreneur and businessman, Pascal Dozie, as a humble man who quietly transformed human and other resources.
Dozie died on April 8, 2025, a day before his 86th birthday.
Quoting from William Shakespeare’s Julius Caesar, in a statement on May 2, 2025, Chioke asserted that Dozie, whom he addressed as PGD (considering Gabriel, his middle name), was a metaphor of “calm and peace at the summit.”
Dozie, who died on April 8, 2025, was the founder of Diamond Band (now Access /Diamond Bank) and the chairman of Pan-Atlantic University, a private, non-profit educational institution in Lekki, Lagos State. Before the Federal Government approved PAU as a university in 2002, it had been operating as the Lagos Business School since 1991.
Chioke stated, “Long before I met PGD, I had heard of his entrepreneurial genius, innovative flair and educational philanthropy. To cite just one of the last elements, he had sponsored several people from my generation to Harvard Business School and other Ivy League institutions in the mid-90s. His motive was to influence the economic and financial future of Nigeria by empowering hundreds of young people to lead the nation into that future.
“His vast educational philanthropy was never sporadic; it was an intentional, consistent, and sustained commitment to uplift others. He was preeminently ‘as constant as the northern star’ in his devotion to God and humanity.”
According to the Afrinvest boss, PGD never sought accolades; accolades sought him.
Afrinvest, a Nigerian capital market holding company, is both a provider of research content on the Nigerian market and an advisor to blue-chip companies across West Africa on mergers and acquisitions as well as international capital market transactions.
Chioke couched Dozie’s virtue poetically, “In every interaction, PGD exhibited an uncommon fusion of strategic foresight and deep compassion. He listened more than he spoke; and when he did speak, he did so clearly, humbly and insightfully. His presence was never imposing, but was always commanding – he was a delight to follow. He led by the power of his example, not by the example of his power. His legacy is one of service without self-interest, leadership without arrogance, and faith without cynicism.”
He noted that Dozie’s visible achievements, awesome as they were, pale into insignificance when when juxtaposed with the countless lives he transformed; the numerous life stories he changed; the business and political leaders he nurtured; and the spirit of excellence, compassion, and integrity he instilled across generations.
“His earthly sojourn is a testament to the idea that one man, armed with vision and compassion, can indeed alter the trajectories of countless lives,” he added.
Born in 1939 in the Egbu village of Owerri, Imo State, into the family of Catholic catechist, Charles Dozie, the deceased attended Our Lady’s School, Emekuku, and Holy Ghost Juniorate Seminary and Holy Ghost College, Owerri, before travelling to London to study at the London School of Economics. He also attended City University in London for his Master’s in Operational Research and Industrial Engineering.
He began his career as an economist at the National Economic Development Office in the United Kingdom. He was also a part-time lecturer at the North Western Polytechnic, London. Between 1970 and 1971, he served as a consulting economist at the African States Consulting Organisation in Uganda. After leaving his job in Uganda, he relocated to Nigeria at his mother’s instance. He was subsequently hired by Clement Isong, then Governor of the Central Bank of Nigeria, to conduct studies on the Co-operative and Commerce Bank.
In 1985, he was appointed Chairman of Progress Bank (now defunct). Later that same year, Dozie applied for a banking licence to help traders in South-Eastern Nigeria, who were faced with banking problems. This birthed Diamond Bank, which at inception had a share capital of N10 million, with only 21 interested shareholders. In 1990, he satisfied the requirements of the Central Bank of Nigeria to operate a standard bank, and in 1991, Diamond Bank began operations, and he was the Chief Executive Officer till 2006 when he handed over to his son, Uzoma.
Dozie was also President of the Nigerian Stock Exchange (now Nigeria Exchange Limited) and chairman of MTN Group.
