We have positioned Nigeria wrongly - Pascal Dozie. Arsenal begins FA Cup trophy tour of Nigeria. C of London, at the head office in Lagos. Regulators should be enhancers rather than killers of businesses, says Dozie.
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That is why you find that the board pack of a bank is much smaller than that of a telecoms company. Banking and telecoms seem to go hand-in-hand these days. But, was there a likelihood that it would happen? So both telecommunications and banking are all forms of transmission of information. And also in the use of the information captured from customers data mining.
For banking, what needs to be done is an extension of financial inclusion. This is an area where telecommunications could actually help leapfrog the banking sector. Although the CEO is on the board, therefore, he is part of the board — but who manages the company? The CEO, as is always the case, reports to the board but it also depends on the dynamics in the board.
It is not easy to be on any board, but unfortunately for us in Nigeria, everybody wants to be on the board. Of course, they are both very relevant. Diamond Bank is also one of the few banks that the Central Bank has always recognized for its systemic relevance and innovation.
Diamond Bank introduced the first debit card in this country — Diamond Pay Card. My biggest accomplishment in business is staying sane and keeping my hands clean. And not trying to short circuit the system. Most times, what should take three weeks or three days could stretch up to six-months depending on how you want it done.
One of the things that I have learnt is getting to know how to be patient; in the sense that you do all that is required of you without trying to force the system. Other than deciding to work for yourself, what was the single most important decision you made that contributed to your success?
The most strategic bet I ever made that paid off wonderfully well is marrying the woman that is my wife. One critical success element is stability in the home front. My wife has really exercised patience in managing me and the five boys that we both have.
Life is such an interesting thing because everybody lives for others. There will always be people working with you and once you have harmony, everybody must buy into what you want to achieve. And for people who believe in professionalism and creativity, harmony is important. In my own case, I always make sure that we share the same values. Though, there might be some discordant voices once in a while but the values will always be the same.
I like the word luck. Dozie is currently serving as a co-chair of the Commonwealth Business Council, and the incumbent Chairman of Kunoch Limited. Like all businessmen, Pascal Dozie experienced his fair share of challenges in the course of his exploits. In , Diamond Bank faced the prospects of extinction when the Central Bank of Nigeria CBN , mandated that all banks must hold a minimum of N25 billion in share capital.
In order to survive, Dozie listed the shares of the bank to raise more, which subjected him to lose a large part of his stake including that of his family in the bank. In the end, it was a success story for him. Email address:. Remember Me. Friday, November 12, Reading Time: 3 mins read.
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