In the late sixties and very early in the seventies the leaders/stakeholders of the P.S.N. conceived and shared the concept of conferring Fellowship Award to deserving members of the profession. Fellowship of the Board has been in accordance with the PSN Constitution. Any one conferred with Fellowship has FPSN affixed to his/her name and must have had at least 20 years of post-qualification experience. This honour is conferred based on these criteria.

-- Long standing service to the PSN 

-- Loyalty and devotion to the cause of the PSN profession 

-- Ethical Pharmacy Practice

-- Academic Excellence

-- Political attainment and achievements in the larger society.

The criteria laid down have been subject of amendments as the needs arose. 

The BOF was instituted during the Presidency of Chief A. O. Ransome-Kuti in 1971. The very first award of 1971 was bestowed on the past National PresidentChief Azariah O. Ransome-Kuti as the first Fellow of PSN . It was a post humus award.

Thereafter regular awards were made starting from 1972. Chief Olu Akinkugbe inducted this first set of Fellows. 

The PSN Constitution provided for the setting up of an ad hoc Privileges Committee specifically for examining the criteria and recommending those suitably qualified for the awards. Initially there were four Five - year sequential classes of awards from 1971 to 1991 . Thereafter a constitution/guideline amendment was made which changed the sequential years of awards from 5 to 3 years. The President was also given the privilege to appoint 3 pharmacists provided they quality for the award. Thereafter the various such awards were 1994,1997, 2000, 2003, 2006, 2009, 2012, 2015 and 2018 - the newest class .

It should be noted that Fellows were constitutionally permitted to govern themselves by properly constituted Executives. Incidentally the first two consecutive Chairmen were Pharm S.O. Ogunsakin , FPSN and Sir S.E. Agboifo , FPSN who had earlier been Presidents of the Pharmaceutical Society of Nigeria  

Since the inauguration of the Board the following BOF Chairmen have been Chairmen of the Privileges Committee of PSN.  

1. Pharm S.O. Ogunsakin , FPSN 

2. Pharm (Sir) S.E. Agboifo , FPSN 

3. Pharm Bruno Nwankwo , FPSN 

4. Pharm (Dr.) F,B. Adenika , FPSN. 

However the first Executive Officers of the Board were : 

1. Pharm S. O. Ogunsakin , FPSNChairman

2. Pharm E. A. Osuorji , FPSNSecretary / Financial Secretary

3. Pharm (Mrs) A. E. Pepple , FPSN. Treasurer 

The Executive Officers of the Board since the inauguration till date are given in the section of the Past and Present National Officers.