The current Department of Banking and Finance is an offshoot of the erstwhile Department of Accountancy and Finance of the Yaba College of Technology, Yaba, Lagos. The primordial Department provided the necessary background for the successful take off of the Banking and Finance programme.
The need for the department was brought about as a result of a persistent call from the financial sector of the Nigerian economy for the training and production of the needed manpower in this area. Against this backdrop, the College authorities initiated necessary activities for an NBTE resource inspection that took place in 2005.