The establishment of the Faculty of Management Sciences was approved by the University Senate on 5th of August, 1999. The Faculty was carved out from the Faculty of Social Sciences. The new Faculty of Management Sciences was established out of the need to make administration of academic programmes in the Management Sciences effective. It was also to ensure that courses that were taken were related to one another and put under one umbrella.
The Faculty has Eight (8) Departments, namely: Accounting, Business Administration, Insurance, Banking and Finance, Industrial Relations and Personnel Management, Management Technology, Marketing, and Public Administration.

Mission

The Mission of the Faculty is to develop and improve students’ understanding of contemporary management issues and problems at various stages of development in Nigeria. In particular, other specific missions are to:
i. Nurture and develop quality professional manpower with capacity to operate in a dynamic world.
ii. Develop a public-oriented professional human capital relevant to national and international organizations.
iii. Develop, in students, capacity to serve as trained change agents in private and public organizations.
iv. Facilitate the acquisition of knowledge through Research in the area of management
v. Facilitate delivery of practical benefits of Research to the Society.

Vision

The vision of the Faculty is to produce a pool of graduates with a burning desire to contribute to Nigeria, Africa and Global development by equipping them with a broad knowledge of the various disciplines in Management Sciences in particular, to produce a pool of graduates and human capital for the commercial, industrial, public service, and social development of Lagos State and its environs within Nigeria and the entire world.