Uzoma Dozie: Greatest Lesson My Father Taught Me Was Contentment

For Uzoma Dozie, former Chief Executive Officer of the defunct Diamond Bank and founder of Sparkle, legacy and leadership are deeply personal. In this exclusive interview, he reflects on the values that shaped his career and outlook on life, saying none more profound than the lesson of contentment passed down by his father, the late banking legend, Pascal Dozie. That principle, he says, has remained a compass through the highs and lows of corporate life, especially in moments of tough decision-making and personal sacrifice. Speaking candidly, Uzoma opens up about the emotional journey of overseeing the merger and eventual sale of Diamond Bank, the institution his father founded and he once led. While the decision stirred deep feelings at the time, he insists it was ultimately the right one, both for the bank’s future and its stakeholders. Years later, he finds comfort in the positive outcomes of that difficult choice and in knowing that the foundation of integrity and resilience laid by his family continues to inspire his path forward. Obinna Chima brings the excerpts:

How has losing your father this year changed your outlook on leadership and legacy?

Earlier this year, my father, Pascal Gabriel Dozie (PGD), passed away. His departure marked the end of an incredible era. Still, it also deepened my resolve to build upon the legacy he left behind—a legacy defined not by wealth, but by transforming lives and making meaningful impacts. I don’t think I lost him. Since his demise, I have learnt more about him. I have come in contact with people who have told me how he helped to transform lives over his more than 50 years of working. I have also appreciated how legacy is not about how much you have made, but about the impact you have made, the lives you have transformed and what you have given back. When I look at the role he played in supporting the Nigerian economy, it goes a long way to show that in leaving us, he left us with lessons for us to imbibe. My father’s passing reinforced my commitment to why I founded Sparkle, a digital platform designed to economically empower two critical, yet underserved, segments in Nigeria: small businesses and the mass affluent. Having the unique experience of leading both a traditional bank and a digital bank has given me insights into the strengths and limitations of each system. Traditional banks effectively serve corporates and the mass market due to their infrastructure and resource availability. Yet, this model leaves small businesses and affluent individuals largely underserved, creating significant gaps in the market. Small businesses, as Nigeria’s economic engine, require specific and targeted support. At Sparkle, we bridge these gaps through technology-driven solutions tailored explicitly for Nigerian small businesses, providing critical services such as payroll management, invoicing, and inventory management. These tools help businesses make clear, informed decisions and grow sustainably. I often describe Sparkle as “the nursery school for small businesses,” emphasising continuous growth and nurturing from inception. The entrepreneurial landscape in Nigeria is continuously vibrant, welcoming new ventures daily, much like a nursery school continually welcomes new students.

What core values did your late father instill in you that still guide your decisions today?

My father was a very simple man, and he lived a very simple life. That simplicity was even in the way we interacted at home. We used to call everyone by their first names, but with respect. They call me Uzoma; we call my dad PGD, my mum – Chinyere, and so on. But you call the names with respect. Also, my father was a true Nigerian, and you could see that with the people that we (my brothers and I) got married to. We married from almost every part of Nigeria and in some instances even from outside. My father also empowered a lot of people, and he led from behind. He never took the limelight, which gave a lot of people who worked with him confidence. In our family, he allowed us to engage with all kinds of people, but made sure we were very respectful of people and the positions they hold. We learnt from him that wealth and money are two different things. He will tell you that there are many poor people with money today, which is the problem with Nigeria today. Wealth to him, was going to church every day, attending mass, and keeping his spirituality intact. My father was more spiritual than religious.  Religion was a path to his spirituality. Today, a lot of Nigerians are very religious, but not spiritual, while in the Western world, we see a lot of spiritual persons who are not religious. That is something we need to think about.  The values of contentment and simplicity that my father instilled remain central to my leadership and life philosophy. I vividly remember his humility and simplicity, even amidst considerable success. These lessons have profoundly influenced how I lead Sparkle and interact with others, promoting a balanced and thoughtful approach. The greatest gift that my brother gave me was that he taught me to embrace contentment at all times. Let me give you an example. About two years after he started Diamond Bank, during my NYSC I was at Guaranty Trust Bank and one day I went out with him for lunch. He was driving a Peugeot 505, while almost all his employees were driving cars that were better than his.  I call him “PGD, how come you are the CEO and everybody is driving bigger cars, while you are still with an old car?’ And he asked me: “Uzoma, are you comfortable, I said yes. He asked again, “Is the car making noise? Is the air conditioner working?” and answered “yes.” So, he said, “Why are you telling me to change the car?” So, that is him for you. I remember when I gave him the news of how long he had left; he was just calm because he used to tell us that he was at peace with his creator. So, every day, I try to imbibe his level of contentment, peace of mind and being calm regardless of the situation. It is when you are calm that you can think 

Your father was a banking legend. How do you intend to carry forward his legacy in a modern tech-driven world?

We started that journey at Diamond Bank. There was a time when he was the Chairman, and I was also at the bank until a new law came that two members of the same family shouldn’t be on the board, and he decided to step down from his position as Chairman. So, he believed in continuity. From the onset, Diamond Bank was built on leveraging technology to provide banking services. I started the retail journey at Diamond Bank, and we leveraged a lot of technology. Then, he was also the chairman of MTN and we had a successful joint venture with which we came up with Diamond Yello, which was all about using technology to provide banking services to a new set of people. When we merged with Access Bank, which had a strong corporate business background, the retail arm of Diamond Bank was a major value to them. So, after that, I decided to take what I know how to do best – driving digital banking- to another level, which is why we have Sparkle today. We decided to build something that is going to be future-proof, and it is for the next generation of businesses. Today, as Sparkle, we are playing our role in equipping businesses. Based on our experience, we are supporting those businesses and sectors that people are not focusing on, which was how Diamond Bank started. At Sparkle, we have our niche, and we focus on small business, providing them with the tools to make them thrive.

Looking back, what personal lessons did you take away from the sale of Diamond Bank, and do you ever regret letting it go?

The decision to sell Diamond Bank was a rational economic decision. Of course, just like your child or baby, letting it go came with lots of emotions. You know if you have a child, he or she will leave you one day, regardless. But sometimes we want to hold on to them. But how have companies become bigger? Some by letting them go or by merging. When I look at the stakeholders in that merger, from the staff perspective for instance, when I see where they are now and how they are transforming other businesses and institutions, it gladdens my heart. Go and see the testimonies of some of the people who were at Diamond then. Shareholders, some of whom were almost fighting me then, are better off today. Some of the directors, after a year of the merger, called to commend me because in terms of their shareholdings, it has gone up. Today, looking at the new entity, Access Bank is one of the biggest banks in Nigeria. For me, that is what legacy is all about. Legacy is not about you have, but the impact you have made. So, for me, there is no regret about that decision. From a family perspective, we are better off. We (my brothers and I), have moved on to go do better things.

We learnt that Sparkle is considering a stock market listing. Can you tell us more about that?

We were invited to the stock exchange to ring the bell on behalf of my late father, a former President of the Exchange. What I said that day was that one day, Sparkle, just like Diamond Bank, would go to the stock market only when the conditions are right. Presently, the Nigerian market isn’t fully prepared to accommodate digital-first, small-business-centric companies like Sparkle. A supportive environment and robust infrastructure are crucial for such innovative businesses to thrive sustainably. So, we are looking at listing in the future, but not at this particular time because I don’t think the conditions are ripe yet.

How do you maintain your mental and emotional balance in the fintech industry known for pressure and disruptions?

One of the benefits of being born in our era. If I think of the type of schools that I went to and the challenges we have had, even with Diamond Bank, those are things that prepare you for life. The pressure would always be there, but you get better at handling that pressure. For me, I am fortunate because of the family I came from. I have four brothers, and we are always in touch with each other. I have 24, 23, and 15-year-old people who are my friends that I talk to regularly, and they help me understand new trends. I have Gen Alpha,  Gen Zs and I have a wife that is successful in her area and going through her own pressures as well. Of course, I try to keep fit and I try to live a balance life. So, all those things help in managing pressure. You must also understand that you are not the only one going through whatever pressure you feel you are going through. That is why you must have responsible friends and build a good network of friends that you can talk to. We live in a changing world, and we must ensure we adapt. For me, I have created an ecosystem that allows me to be able to do things without being in the office and without carrying too many bags around.

How do you unwind after a long and demanding day?

For me, unwinding is just sitting down and watching television; it can be just having drinks with few friends. I have some of my friends, and we hang out sometimes and discuss life.  At times, I unwind by staying with my wife alone, and sometimes a few friends can come around. I am an introvert as well, and I like my space, and I like to know the people I have around me.

What drives your passion for investing in technology and young entrepreneurs?

My passion for technology isn’t merely an interest in gadgets; it’s rooted in my belief that technology should simplify life, enhance freedom, and provide valuable insights for better decision-making. Digital transformation is essential for Nigeria. Without adequate data infrastructure and digital adoption, we risk significantly falling behind globally, especially in crucial sectors like education and employment.