Ex-Wema Bank MD Adebise chairs the board of Family Homes Funds Limited (FHFL).

Ex-Wema Bank MD Adebise chairs the board of Family Homes Funds Limited (FHFL).

By Fly Cable News

President Bola Ahmed Tinubu has appointed Ademola Adebise, a former managing director of Wema Bank, as chairman of the board of Family Homes Funds Limited (FHFL).

Adebise, an alumnus of the University of Lagos, is 57 years old.

As part of the new appointments, Abdul Muttalab will serve as Chief Executive Officer/Managing Director.

The board will also include Abdullahi Musa as Executive Director (Finance) and Emeka Henry Inegbu as Executive Director (Operations).

In addition, representatives from the Ministry of Finance Incorporated and the Nigeria Sovereign Investment Authority (NSIA) will serve as non-executive directors.

The board will be rounded out by four non-executive directors: Sam Okagbue, Musa Ahmed, Eniang Nkang, and Bilkisu Usman.

Family Homes Funds began operation in 2018 to provide affordable housing for low-income Nigerians.

As a social housing initiative, it is promoted by the Federal Government of Nigeria as part of its Social Intervention Programme, with initial shareholding by the Ministry of Finance Incorporated (MOFI) and the Nigeria Sovereign Investment Authority (NSIA).