FITC was established in 1981 as a non profit organisation limited by guarantee, based on the Company’s Act of 1968, in response to the  recommendations of the Pius Okigbo Committee set-up by the Federal Government   of Nigeria to review the Nigerian financial system. It is owned by the Banker's Committee, which comprises of the Central Bank of Nigeria, theNigeria Deposit Insurance Corporation, all licensed banks and discount houses in Nigeria.

Objectives:

The main objectives of the Centre are: 

• - To provide training, consulting and research services to the players in the financial services sector and related industries.
• - To promote advancement in knowledge in the practice of banking, finance and related competencies by organising seminars, workshops, lectures, making publications that are considered desirable for promotion of its mandate.
• - To advocate for and advancing knowledge and practice of good corporate governance in the financial services sector.
• - To initiate, support and advise on legislations or other measures affecting related issues as listed in mandate.
• - To explore opportunities for mutual cooperation with reputable institutions committed to similar objects.
• - To print and publish any newsletters, periodicals, bulletins, books or leaflets that it may consider desirable for the promotion of its objects.
• - To do all such things that are incidental or conducive to the attainment of the above objectives 

In line with its mandate, the Center regularly: 

Designs and delivers training programmes in areas of general management,leadership development,banking and finance. Such training programmes are ususally by FITC in collaboration with subject matter experts across industries or training organisations abroad.Total number of participants to various training programmes delivered by FITC and related collaborative programmes as at December 31, 2008 is 36,703.

Provides consulting support to its giving number of clients through the FITC consulting business unit. Major areas of Consulting support include organisation design,executive selection,test administration,organisation and staff assessments,leadership development etc.

Provides research and benchmarking services support through the FITC Research business unit, which also co-ordinates other knowledge management services such as library services and publications. 

FITC is generally committed to a culture of excellence, as it strives to enhance standards in pursuit of its mandate and objects.

FITC Training designs and dlivers open courses,customised inplant courses and workshops in collaboration with both local internatios subject matter experts within and outside Nigeria.

FITC Consulting has over the years, built up a very reputable list of clients in the financial services and other sectors, by providing consulting support in areas related to strategy,people, systems platform definition, deployment and upgrade.

FITC Research conducts researches aimed at improving the financial services sector, thereby finding solutions to some of the sectors issues, as they evolve. It also support FITCwith internal quality assesment, runs the rich Puis Okigbo library, and publishes books/journals in collaboration with various institutions and subject matter experts.