Otti had last month denied reports that he has made public his intention to contest for the Governorship of South Eastern State of Abia in 2015. But with elections drawing close in Nigeria, the revered bank chief is believed to have left in time to prepare for the coming elections.
“While Otti is not unaware of pressure being brought upon him by various organisations to contest for the electoral seat based on his hard work, integrity, managerial ingenuity and
track record of performance in the corporate world, the bank notes that he is currently focused on pursuing the vision of taking the bank to greater heights,” a statement by Otti’s PR team stated in September.
However, the Nigerian lender in an official statement through its Corporate Communications Department confirmed Otti’s exit, describing his three-and-a-half-year tenure as the brightest in the bank’s 24-year history.
The Bank’s Board of Directors has replaced Otti with Uzoma Dozie, one of the Deputy Managing Directors appointed in March and son of Former Chairman Pascal Dozie.
“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,” the statement said.
Diamond Bank has witnessed impressive growth during Otti’s tenure, becoming one of Nigeria’s top banks and recently classified by the country’s Central Bank as one of the eight systematically important banks.
The bank saw its Profit After Tax (PAT) grow 29 percent in 2013, soaring N6.4 billion ($38.8 million) from 2012 figure of N22.1 billion ($134 million) to 28.5 billion ($172.8 million) last year.
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