The university was founded by the Management Science Centre, a Professional Training and Educational Consulting Firm established in 1983.

[citation needed] In 1983, a group of academics and professionals came together in Lagos to establish Management Science Centre.

By 1995, the modest foundation of 1983 had brought Management Science Centre into joint relationships with reputable institutions of higher learning in Nigeria, including: a) Auchi Polytechnic, Auchi, Edo State, for Certificate courses; b) University of Ibadan, Oyo State, for Diploma courses c) Ambrose Alli University, Edo State, for undergraduate and postgraduate degree courses.

Daniel C. Isimoya as pro-chancellor, Prof. F.E Obi Ikediugwu as Vice Chancellor and Barr (Mrs.) Edith Emmamezi Efam as Registrar.

The then governor of Lagos State, His Excellency, Mr. Akinwumi Ambode delivered the convocation lecture and four eminent Nigerians namely: Dr. Uyi Akpata, Chief (Dr.) Innocent Ifediaso Chukwuma, Dr. Ambriosie Bryant Chukwueloka and Dr. Dorry Afe Okojie were honoured with the doctorate degrees of the university.