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Updated: Meet The Dozie Brothers Who ‘Left’ Diamond Bank to Start Different Banks

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11 months ago

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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.

 

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Business

No More N1,300/Litre: Relief As Petrol Prices Drop, Marketers Announce New Rates

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3 hours ago

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July 27, 2026

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Petrol depot prices have dropped again across Nigeria’s key distribution hubs, with loading rates falling at several depots in Lagos, Port Harcourt and Warri amid sustained competition and improved product supply.

The fresh cuts, ranging from N5 to N25 per litre on Monday, July 27, were recorded at multiple depots nationwide

In Lagos, all six monitored depots lowered their ex-depot rates. Bulk Strategic trimmed its price from N1,260 to N1,250 per litre, while Liquid Bulk moved from N1,270 to N1,256, data from Petroleumprice.ng shows.

Masters dropped from N1,275 to N1,260, and Matrix reduced its rate from N1,270 to N1,255. Sigmund recorded the largest single cut in Lagos, shaving N20 off its price to settle at N1,250 per litre. T.S.L also lowered its loading price from N1,265 to N1,250.

Port Harcourt depots followed suit. Hong Petroleum reduced its ex-depot price from N1,255 to N1,246 per litre, while Mainland moved from N1,255 to N1,250. Northwest did not publish a current loading price.

In Warri, Optima posted the biggest single reduction across all three cities, cutting its price by N25 from N1,270 to N1,245 per litre. Matrix in Warri also reduced its rate by N24 to N1,246, and Rain Oil trimmed its loading price by N5 to N1,268 per litre.

Below is a snapshot of current ex-depot prices: Snapshot of petrol depot prices on Monday at depots

LAGOS

Bulk Strategic – N1,250/litre

Liquid Bulk – N1,256/litre

Masters – N1,260/litre

Matrix – N1,255/litre

Sigmund – N1,250/litre

T.S.L – N1,250/litre

PORT HARCOURT

Hong Petroleum – N1,246/litre

Mainland – N1,250/litre

WARRI

Optima – N1,245/litre

Matrix – N1,246/litre

Rain Oil – N1,268/litre

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Top 10 Richest Yoruba Billionaires: South West Wealthiest Entrepreneurs, Key Factors Behind Their Wealth

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1 day ago

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July 26, 2026

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The Yoruba ethnic group, predominantly located in Nigeria’s southwestern region, has long been home to some of the wealthiest and most influential entrepreneurs in Africa.

Over the years, these Yoruba billionaires have made significant impacts across various sectors, including oil and gas, banking, telecommunications, real estate, and entertainment. Their business acumen and achievements have not only helped shape Nigeria’s economy but have also garnered international recognition.

Here’s a look at the top 10 richest Yoruba billionaires and the key factors behind their wealth:

10. Sulaiman Adebola Adegunwa
Sulaiman Adegunwa is a billionaire philanthropist and businessman from Ogun State. He is the founder of Rite Foods Limited, a company best known for producing popular food and beverage brands in Nigeria. His investments also extend to education, as he founded the Sulaimon College of Education in Ogun State.

9. Fola Adeola
Fola Adeola is best known as the founder of Guaranty Trust Bank (GTBank), one of Nigeria’s largest and most respected financial institutions. He is also involved in several other ventures, including heading MainOne, a telecom company, and running the FATE Foundation, which supports entrepreneurship in Nigeria. His net worth is around $550 million.

8. Dele Fajemirokun
Dele Fajemirokun is one of the most respected Yoruba business figures, with investments spanning insurance, oil, and telecommunications. He is the chairman of AIICO Insurance and a key investor in Food Concepts, the parent company of Chicken Republic. His business acumen has earned him a net worth of $500 million.

7. Samuel Adedoyin
Samuel Adedoyin is a self-made billionaire who overcame humble beginnings to become one of the wealthiest Yoruba men in Nigeria. He is the founder of the Doyin Group, a conglomerate involved in manufacturing, agriculture, and real estate. Adedoyin’s journey from small business ventures to becoming a billionaire is truly inspirational, and his net worth is estimated at $540 million.

6. Oba Otudeko
Oba Otudeko, a respected business magnate and philanthropist, is the founder of Honeywell Group, a diversified industrial conglomerate with interests in food processing, oil and gas, and real estate. He also played a pivotal role in the Nigerian banking industry, previously serving as the chairman of First Bank of Nigeria. Otudeko’s net worth is around $550 million.

5. Tunde Folawiyo
As the managing director of Yinka Folawiyo Group, a conglomerate with interests in energy, agriculture, and real estate, Tunde Folawiyo carries on the legacy of his family’s business empire. His ventures in shipping and energy are particularly notable, and he also serves on the board of MTN Nigeria. His estimated net worth is around $650 million.

4. Deji Adeleke
Dr. Deji Adeleke is a prominent businessman and philanthropist, best known as the father of the famous Nigerian musician Davido. He is the founder of Pacific Holdings Limited, a company with interests in oil and gas, real estate, and logistics. Adeleke is also an investor in education, having established Adeleke University in Osun State. His net worth is estimated at over $700 million.

3. Jimoh Ibrahim
Jimoh Ibrahim is another leading Yoruba entrepreneur who has built his fortune through diversified business ventures. He is the CEO of Global Fleet Group, a conglomerate with interests in oil and gas, insurance, real estate, aviation, and publishing. A lawyer by training, Jimoh Ibrahim’s net worth stands at around $1.1 billion, largely due to his ability to navigate various industries successfully.

2. Femi Otedola
Femi Otedola is one of Nigeria’s most recognized billionaires, primarily due to his involvement in the oil and gas industry. He is the former chairman of Forte Oil, a major petroleum marketing company in Nigeria, and his business ventures have expanded into power generation, finance, and real estate. Otedola’s investments in key sectors like shipping and energy make him a major player in Nigeria’s economy. As of 2024, his net worth is estimated at $1.8 billion.

1. Mike Adenuga
While Mike Adenuga is a Yoruba billionaire, his reach extends beyond Nigeria to the rest of Africa. He is the founder of Globacom, one of Nigeria’s largest telecommunications companies, and he also has interests in oil exploration through his company Conoil. Adenuga’s strategic positioning in telecoms and oil has made him the second-richest man in Nigeria, with a net worth of over $6 billion.

SEE THEIR NET WORTH

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FG Unveils Portal, Targets 26,961 Nigerians for New Positions

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2 days ago

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July 26, 2026

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The Federal Government has launched the online registration portal for Phase III of the Renewed Hope Employment Initiative (RHEI), with plans to train 26,961 unemployed Nigerians in 70 high-demand skills as part of efforts to tackle unemployment and boost entrepreneurship nationwide.

The programme, which will run across the 36 states and the Federal Capital Territory (FCT), is expected to commence in August 2026 after the registration process is completed.

Speaking during the launch, the Minister of Labour and Employment, Dr Mohammed Dingyadi, said the initiative is designed to equip unemployed Nigerians with practical, market-driven skills that can lead to employment or self-reliance.

He explained that the government would adopt a ward-to-ward selection process to ensure that beneficiaries are drawn from communities across the country, promoting fairness and wider participation.

According to the minister, the programme aligns with the Federal Government’s broader agenda to reduce unemployment by expanding access to vocational training and enterprise development.

As part of the initiative, the government also announced plans to resettle 3,405 outstanding graduate trainees with starter packs and work tools after completing their training.

The support package is intended to help beneficiaries establish businesses or begin careers in their chosen trades, strengthening the government’s push for sustainable job creation.

Dingyadi acknowledged complaints from beneficiaries of the earlier phases regarding unpaid stipends and delayed resettlement support.

He attributed the setbacks to funding constraints and assured participants that the ministry was working with relevant authorities to secure the release of funds needed to settle all outstanding obligations.

“I wish to assure all affected beneficiaries that this Ministry is fully aware of the matter and is working with the relevant authorities to ensure the release of the necessary funds so that all outstanding obligations can be met without further delay,” he said.

Director-General of the National Directorate of Employment (NDE), Silas Agara, said the upgraded registration portal includes new security and verification features to improve transparency and efficiency.

Applicants will be required to verify their identities using their National Identification Number (NIN), while the system will automatically prevent multiple registrations and assign applicants to training centres closest to their locations.

Agara added that persons living with disabilities would be identified during registration and matched with skills programmes suited to their needs.

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