CBN approves Uzoma Dozie’s appointment as Diamond Bank’s new GMD as Otti resigns

The Central Bank of Nigeria (CBN) has approved the appointment of Uzoma Dozie as the new Group Managing Director and Chief Executive Officer of Diamond Bank following the voluntary resignation of Dr Alex Otti.
Otto resigned last week to pursue his gubernato­rial ambition in the 2015 general election.
The bank said that the decision to step down would afford Otti the oppor­tunity to fully engage in the 2015 governorship election in the state.
The board of Diamond bank announced the appointment of Dozie subject to the approval of Central Bank of Nigeria (CBN).
An official statement released by the bank’s Cor­porate Communications De­partment an­nounced the changes in management stating that Dozie’s appointment was in recognition of his extensive managerial capabilities.
“We are pleased to announce the appointment of Mr. Uzoma Dozie as the new Group Managing Di­rector/Chief Executive Offi­cer of Diamond Bank Plc in consonance with the bank’s succession strategy and in recognition of Mr. Dozie’s wealth of banking knowl­edge.”

As GMD/CEO, Otti’s saw to Diamond Bank’s re­markable return to profit­ability and has continued to record impressive growth across all performance in­dicators year-on-year. After writing off toxic risk assets which resulted in the loss of N16 billion in 2011, the bank posted a profit be­fore tax of N28.36 billion in 2012 and N32.5 billion in 2013. It also saw its to­tal assets rise from N564.9 billion in February 2011 to N1.18 trillion by December 31, 2012 and N1.52 trillion on December 31, 2013.

Otti is credited with cre­ating the office of the Chief Risk Officer and designat­ing an Executive Director to head the department. He also spearheaded the expan­sion of the bank by doubling the full staff count from around 2,000 in 2010 to over 4,000 as at mid-2014 even as he vigorously grew the bank’s footprints from a network of 210 branches in 2011 to over 265 branches three years later. It was also under his watch that the bank established an inter­national subsidiary in the United Kingdom, in addi­tion to expansion in Fran­cophone West Africa (Sene­gal, Togo and Ivory Coast).
It is to be noted that the central bank only recently classified the bank as one of the eight systematically important banks in Nigeria under Otti’s watch.

Dr Alex Otti is a fine gentleman with an out­standing career in the Ni­gerian banking industry. We are pleased with the time he spent at the helm of af­fairs of Diamond Bank Plc and wish him every success  in his future endeavours,” commented the bank’s Chairman.

Otti, is a 1988 graduate of the University of Port Harcourt where he finished with a first class honours degree in Economics.
He subsequently received an MBA from the Univer­sity of Lagos in 1994 as well as honorary Doctor­ate degrees from Babcock University and the universi­ties of Port Harcourt (UNI­PORT) and Nigeria (UNN) in 2009, 2012 and 2013 re­spectively.

Prior to his appointment as the Group Managing Director/CEO of Diamond Bank Plc in March 2011, Otti worked in a number of financial institutions in various capacities.