Business
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.
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 emphasised 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.
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.
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.
Business
Israel Negative Report, 6 Other Social Media Posts That Can Stop US Visa Approval [FULL LIST]

There are no fewer than seven social media posts that could ruin people’s United States visa applications
This is based on the new US visa rules that require applicants to list all social media usernames used in the past five years
US visa applicants are expected to submit their social media usernames when completing Form DS-160 and ensure their accounts are set to public
The United States government has directed that visa applicants must submit a list of all social media usernames they have used in the past five years. These are the new U.S. visa rules when completing Form DS-160, and applicants must ensure their accounts are set to public.
As reported by The Nation, the following are social media posts that could ruin a US visa application.…Click Link for Full List
Business
Re: Appeal Court Seizes Purported Zenon Property Over Unpaid Judgement Debt

Zenon’s attention has been drawn to the mischievous and misleading reports circulating in the media and sponsored by one James Lloyd and a Chronic bank debtor who is the proprietor of a media outlet that Zenon Petroleum led by Mr Otedola s indebted to James Lloyd-Jennings and the Company’s offices have been attached .
To set the records straight, the matter in question involves agency fee in respect of an aircraft which Zenon planned purchase but was ultimately taken over by AMCON and the Court of Appeal is to determine the issue of liability as well the merit of and exparte order of interim attachement against a property not owned by Zenon but a third party .
Suffice to mention that both Mr Lloyd and the Chronic debtor are aware that the Owners of the property against whom the exparte order of Court was wrongly procured have also filed applications which has been fixed for hearing in October to discharge the order to which no response has been made .
For the records Mr Otedola does not owe Mr Lloyd neither has Zenon’s Headquarters in Victoria Island seized by a Court of Appeal order and the whole purpose of the misleading reports circulating in the media is not only to use extra judicial means to extort money from Mr Otedola but also to malign his reputation in order to blackmail him to settle a matter that is subjudice .
Business
Making It Big: How My Life Changed With £250,000 Loan – Otedola

Billionaire businessman Femi Otedola has revealed that a £250,000 loan from his father Sir Michael Otedola, a former Lagos State governor-was the lifeline that helped scale up Zenon Petroleum, the oil trading company that cemented his place in Nigeria’s business landscape.
Otedola made the disclosure in his memoir Making It Big, where he draws parallels between the support he received from his father and the guidance he now provides to his children.
According to him, mentorship and financial backing were critical to his rise and remain central to how he nurtures the ambitions of his own protégés.
He recalled financing his daughter DJ Cuppy’s first major show, which featured Davido, with N10 million when they were just 16. The concert, however, flopped, attracting only a handful of older attendees including former Cross River State Governor Donald Duke and his wife Onari, as well as lawyer Jide Coker.
“Papa, people aren’t coming,” his daughter lamented. His response was to open the gates for free an experience he describes as a lesson in tenacity and perseverance. Today, both artistes have grown into household names.
More insights
Davido, who has gone on to become one of Africa’s biggest music exports, boasts multiple hit singles, global tours, and awards, including a Grammy nomination in 2024. He is also one of the most streamed Afrobeats artistes globally, with a loyal fan base spanning Africa, Europe, and the United States. DJ Cuppy, meanwhile, has carved out her own niche as a DJ and producer, releasing hit singles, headlining major international events, and serving as a UN ambassador. She has also become a prominent advocate for philanthropy and youth empowerment.
The billionaire also recalled spending the summer of 2019 in Monaco with his children, where he shared “nuggets of wisdom” passed down from his father alongside lessons picked up throughout his career.
Beyond family, Otedola credits role models such as the late Wahab Folawiyo, whose pioneering business exploits he studied closely, as key influences in shaping his entrepreneurial outlook.
What you should know
In 2003, having identified an opportunity in the fuel retail market, Otedola secured the finance to set up Zenon Petroleum and Gas Ltd, a petroleum products marketing and distribution company. As owner and chairman, he moved quickly to dominate the industry.
By 2004, he had invested N15 billion in downstream infrastructure, acquiring storage depots in Apapa and Ibafon, as well as four cargo vessels with a combined total storage capacity of 147,000 metric tons.
That same year, Zenon added a fleet of 100 DAF fuel-tanker trucks worth N1.4 billion.
By 2005, Zenon controlled a major share of Nigeria’s diesel market, supplying fuel to some of the country’s largest manufacturers, including Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestlé, and Guinness.
Otedola’s aggressive expansion culminated in 2007 when ten banks approved a syndicated loan of $1.5 billion to Zenon to build the largest premium motor spirit storage facility in Africa. Later that year, Zenon acquired a 28.7% stake in African Petroleum, one of Nigeria’s leading fuel marketers.
Zenon also expanded into the kerosene market, solidifying its influence in Nigeria’s energy sector. However, in 2012, the company was named in a controversial fuel subsidy scandal, where it was alleged to have owed $1.4 million to the government. The case drew public attention after a sting operation revealed a lawmaker, Farouk Lawan, demanding bribes from Otedola to clear Zenon’s name. Lawan was later charged with corruption, while Otedola maintained his innocence.
Buy Otedola’s ‘Making it Big’ Memoir At These Bookstores Across The World
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