Biograpy
Pascal Gabriel Dozie is a Nigerian entrepreneur and businessman. He is the founder of Diamond Bank and the chairman of Pan-Atlantic University.
Early Life
Pascal Dozie gained a fortune through tenacity, hard work and wit, on a long and difficult road from Owerri in Imo State where he was born in 1939.
His entrepreneurial journey began against the backdrop of a Nigeria marred by the bloody Biafran war waged between 1967 and 1970 that saw over 30,000 Igbo lives lost. Pascal, at the time, was finishing his degree at The London School of Economics where he shared a class and rubbed shoulders with The Rolling Stones lead singer Mick Jagger, who dropped out to form the English rock band.
Pascal and his wife were unemployed and as a result, the couple planned to relocate to the United States (US) in search of greener pastures. But they changed their plans in the last minute due to his mother’s ill-health and her wish to be closer to her first grandson, Uzoma.
Pascal had to quickly find another way to make ends meet. He decided to start a consulting firm, the African Development Consulting Group, where he worked for multinationals like Nestle and Pfizer.
“My first objective was survival and of course I had an ambition. You set up a company, you want that company to grow; you want it to be robust and profitable. Being in consulting was a tricky affair because you have a lot of receivables. It was a hustle job. A hustle to get payment and a hustle to do the job all the time.”
Wife
Pascal Dozie is married to Chinyere Dozie and they have five children. They also have more than ten grandchildren. Their first son took over from his father as Chairman of Diamond Bank in 2006 when he retired from the bank.
Age
born 9 April 1939 in Owerri, Imo State
Children
Pascal Gabriel Dozie has five children and more than 10 grandchildren
Education:
Pascal Gabriel Dozie completed his elementary and high school in his local government before going to London, England to further his education. He studied Economics at the London School of Economics. Afterward, he did his Masters in Administration and earned his degree from City University in London in 1963. Before the start of his master’s program at City University in London, he studied Operational Research and Industrial Engineering in the university.
Career and Source of Wealth
Pascal Dozie 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. In 1971 after he left his job in Uganda, he relocated to Nigeria at the request of his mother.
In 1971 after his return to Nigeria, with his experience in Econometrics and Industrial Engineering he launched his first company, the African Development Consulting Group (ADCG). ADCG had worked with companies such as Nestle and Pfizer.
He was subsequently hired by Clement Isong, then Governor of the Central Bank of Nigeria, to conduct some studies on the Co-operative and Commerce Bank.
In 1985, he was appointed Chairman of Progress Bank, which is now defunct.
Later that same year Dozie applied for a banking licence in order to help traders in South-Eastern Nigeria who were faced with banking problems. This brought about the birth of Diamond Bank. At its inception the share capital of the bank was ?10million ($28,000) 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 the Diamond Bank began operations. He was CEO of Diamond Bank from 1991 to 2006 when he handed over to his son Uzoma Dozie.
Dozie was also at one time President of the Nigerian Stock Exchange.
He currently owns shares in MTN Group and was Chairman of the company. He later resigned as the chairman and was succeeded by the former NCC boss Ernest Ndukwe.
Net Worth
Pascal Dozie who is among the richest men in Imo state and Nigeria and his net worth is estimated at $1 Billion USD.
In one of his Forbes Interviews, Pascal said, “You will not find any company owned by Nigerians being managed by the third generation or fourth generation as such but you will find that among Indians in Nigeria, and the Lebanese in Nigeria. But ours [Nigerians] have been short-term because the first generation sets up the business, then the next generation tries to develop it and the third generation squanders it.” These days, that has been Pascal’s real focus. He believes in order for Nigeria to effectively compete globally, there has to be a focus on succession-planning.
Disclaimer
The information in this article was curated from online sources. NewsWireNGR or its editorial team cannot independently verify all details.
Always visit NewsWireNGR for the latest Naija news and updated Naija breaking news.
NewsWireNGR Latest News in Nigeria
Send Us A Press Statement/News Tips on 9ja Happenings: [email protected].
Advertise With Us: [email protected]
