With the death on Sunday, April 6, 2025, of Dr. Victor Olunloyo, just a week before his 90th birthday anniversary, Nigeria lost one of the most talented and versatile citizen of his era. Olunloyo will be missed for his impeccable personality. He was a great mathematician, engineer, and renowned technocrat. His remarkable contributions and fervent convictions in education as the avenue for transformative national development led to the standardisation of education in the then Western Region. At age 27, Olunloyo served first, under the civilian administration Adekoyejo Majekodunmi and the military administration of Gen Adeyinka Adebayo as a Commissioner for Special Duties, Commissioner for Economic Development, Commissioner for Education and Commissioner for Local Government and Chieftaincy Affairs respectively and later as civilian governor of Oyo state under the National Party of Nigeria (NPN) in 1983.
As Commissioner for Education Olunloyo sanitised the operations of private secondary schools that littered the state at that time. He instilled academic excellence and institutional discipline, threatening to close down schools that failed to adhere to minimum standard. Also, Olunloyo stopped the apartheid behavior at the International School of the University of Ibadan which was then an exclusive elitist school under an expatriate principal. He changed the exclusiveness of the school without lowering its standard.
Born on April 14, 1935 in Ibadan, Olunloyo attended Anglican missionary school founded in 1888, Holy Trinity Primary school, Ebute-Ero, Lagos in 1939. In 1940, he moved to Olowogbowo Methodist Primary School, Lagos. He later concluded his primary education at St. Peter Primary school, Aremo, Ibadan between 1941-1946. In 1948, from standard 5, he obtained a scholarship for his secondary education at Government College, Ibadan. While in Government College, he challenged himself as well as his teachers to give him a full year’s course which he finished and passed in three months. He also solved a mathematical problem given by his teacher through another method and defended it as being simpler and faster than that of the teacher. In 1953, he entered University College Ibadan after he came top in Ibadan province in the Higher School Certificate (HSC) examinations and studied privately for his A-levels which he obtained in 1954. His intellectual status was no less remarkable and it earned him a special beneficiary of Chief Awolowo’s administration in Western Region.
Olunloyo won two scholarships, one in Engineering, the other Mathematics to study in the United Kingdom. He obtained B.Sc (First Class Honours in Mechanical Engineering) in 1958 and concluded his PhD in Mathematics within two years. Olunloyo was not just an erudite scholar, he distinguished himself as a man of many firsts. He broke the barrier at the University of St Andrews and skipped year one, by challenging himself within 7 days to a written test, which he passed. His excellent performance subsequently paved the way for intelligent and qualified students to start from second year in the University.
On returning to Nigeria, his destination was appropriately the department of Mathematics, University College Ibadan where he lectured. Among his colleagues were, Chike Obi, Olubunmo, Lesley, Kuku, Tejumola and Sowunmi. As an enigma and a very talented and versatile individual, Dr. Olunloyo crafted and pursed academic excellence at all times. Notwithstanding his disciplines of mathematics and engineering, he had good knowledge and appreciation of arts and music. He was fondly referred to as a walking encyclopedia as well as mathematical wizard. He was at home with the literary works of English writers such as William Shakespeare, John Keats, John Milton and the iconic Yoruba writer, D O Fagunwa. He enjoyed classical music of Mozart, Beethoven, Bach among others.
No doubt, public service provided Dr, Olunloyo with an opportunity to set a worthy example, marked by hard work, selflessness and commitment. He found no reason to exploit his position or see it as an advantage to amass wealth. His life was simple and dignified, a worthy example for younger generation to emulate.
Pascal Dozie (1939-2025)
EVERY nation and indeed every system is helped along by the presence of individuals whose vision and audacity of hope is banked on the nation’s better future. Such an individual was Pascal Dozie who died on April 8, 2025 at 86. His passing is a loss to the nation and the business world, especially the banking sector. Dozie as he was fondly called, was not just a pioneer banker or boardroom strategist, he was a patriarch of modern entrepreneurship and a believer in Nigeria’s economic positive stance.
His demise at this time seriously deprives Nigerian business world of his experience. He was a household name in the business world, particularly the banking sector. The story of modern Nigerian enterprise would not be complete without a mention of his name.
Born on April 9, 1939 in Egbu village, Owerri, Imo State. Dozie had early education at Holy Ghost College, Owerri. Given the fact that the nation was passing through trying times as a result of the civil war, Dozie left the shores of the country to study Economics at the prestigious London School of Economics. He earned a Master’s degree in Administrative Science with a focus on Operational Research and Industrial Engineering from City University, London. He worked briefly at the United Kingdom as an economist at the National Economic Development Office as well as a part-time lecturer in North Western Polytechnic. As fate would have it, the General Idi Amin coup cut short his appointment as a consulting economist working closely under Milton Obote government for the African States Consulting Organisation. On his return to Nigeria from Uganda, he founded the African Development Consulting Group (ADCG). The hard-work put to make the ADCG succeed, earned him a Central Bank of Nigeria engagement to conduct studies on the Co-operative and Commerce Bank. In 1985, he was appointed chairman of Progress Bank, now defunct. Dozie once served as the President of the Nigerian Stock Exchange. He also chaired the Board of MTN Nigeria, between 2001-2019. His commitment to national development was evident during his tenure as Chairman, Nigerian Economic Summit Group.
He and his likes came up with Diamond Integrated Banking System (DIBS) in 1985. The system liberated Nigerian traders’ from the burden of carrying large amount of cash as well as being vulnerable to armed robbery attacks. Two years later, the value card payment system was introduced.
Pascal Dozie founded Diamond Bank in 1991. The bank set the ball rolling with just 10 million Naira in capital and 21 shareholders. Under Dozie’s leadership as Chief Executive Officer between 1991-2006, (before he handed over to his son, Uzoma Dozie), the bank grew into a nationwide financial power house. Again, Dozie saw potential where others saw risk when South Africa’s MTN Group was to enter the Nigerian telecoms market. With trusted allies, they raised 20%; and that singular decision is hailed as the smartest investment in the country’s business.
Pascal Dozie was a recipient of both the Commander of the Order of the Niger (COON) and Officer of the Order of the Niger (OON). Also, as a testament for his enduring leadership, he received in 2012 a lifetime achievement award at the All Africa Business Leaders Awards (AABLA). No doubt, Dozie’s passing has robbed the nation of a dedicated businessman, and citizen, who was willing at all times to make significant contribution in the banking sector and business generally. His legacy and example should endure.
