The formation of Nasrul-Lahi-Il-Fatih Society (NASFAT) – the Proprietor of Fountain University- was originally focused on prayer meetings for the Muslim elites, with a view to creating necessary opportunity for them to interact and rub minds with Islamic scholars on the one hand; and to enhance their knowledge about the principles and practices of Islam, on the other hand.

The desire of the Nasrul-Lahi-Il-Fatih Society  (NASFAT) to establish a University was borne out of its educational policy and plan enunciated at its strategic Retreat held at Akodo, Lagos, in the year 2000. From this humble beginning, the Society started a systematic process which led to the hosting of an academic summit of 30 Distinguished Academic Personalities from where an 18-person University Planning Committee emerged in January 2004.

Fountain University was granted an operational licence as a Private University on May 17, 2007 by the Federal Government on the recommendations of the National Universities Commission.Following this achievement, a Fountain Universities Strategic implementation Committee was set up to serve as “in loco Council” to actualise the birth of the University. This Committee worked tirelessly to put in place the necessary facilities for the University to take-off. The Committee was dissolved in September 2007 upon the inauguration of the Governing Council led by Professor N.O.Adedipe. The first Governing Council completed its first four Year in September 2011 after which it was reconstituted.