President Bola Tinubu has appointed a new 10-member board for Family Homes Funds Limited, marking a significant move to enhance Nigeria’s real estate sector. Ajuri Ngelale, Tinubu’s Special Adviser on Media and Publicity, announced the appointments in a statement titled, “President Tinubu Appoints New Board of the Family Home Fund.”
The newly appointed board members include Mr. Demola Adebise as the Board Chairman, and Mr. Abdul Muttalab, who continues as the Chief Executive Officer/Managing Director, a position he has held since January 2023 under former President Muhammadu Buhari. Alongside them, Mr. Abdullahi Musa takes the role of Executive Director of Finance, and Mr. Emeka Inegbu assumes the position of Executive Director of Operations.
Board Members Announced
Representatives from the Ministry of Finance Incorporated and the Nigeria Sovereign Investment Authority have been appointed as Non-Executive Directors. Additional Non-Executive Directors include Mr. Sam Okagbue, Mr. Musa Ahmed, Dr. Eniang Nkang, and Ms. Bilkisu Usman.
These appointments are part of President Tinubu’s broader strategy to inject new energy and expertise into the Family Homes Funds. However, the board members are tasked with steering the organization towards achieving its mandate of driving growth and development in the real estate sector. Moreover, this move is expected to bolster efforts to provide affordable housing solutions across Nigeria, a critical need for many Nigerians.
The appointment of Mr. Demola Adebise as the Board Chairman is a strategic choice given his extensive experience in the banking and financial sector. Futhermore, Adebise is expected to bring valuable insights and leadership to the board, ensuring that the Family Homes Funds can navigate the complexities of the housing market and secure the necessary funding and partnerships to fulfill its mission.
Non-Executive Directors and Their Roles
Mr. Abdul Muttalab, who remains as the Chief Executive Officer/Managing Director, has been with the Family Homes Funds since January 2023. Under his leadership, the organization has made significant strides in addressing Nigeria’s housing deficit. His continued role ensures continuity and stability, which is crucial for the ongoing projects and initiatives.
Mr. Abdullahi Musa, appointed as the Executive Director of Finance, will be responsible for overseeing the financial operations of the Family Homes Funds. However, his expertise in finance is expected to enhance the organization’s ability to manage its resources efficiently and effectively, ensuring that funds are allocated appropriately to various housing projects.
Mr. Emeka Inegbu, taking on the role of Executive Director of Operations, will oversee the day-to-day operations of the Family Homes Funds. Moreover, his experience in operations management will be vital in ensuring that projects are executed smoothly and within the set timelines.
Representatives from the Ministry of Finance Incorporated and the Nigeria Sovereign Investment Authority, appointed as Non-Executive Directors, will provide strategic oversight and ensure that the Family Homes Funds aligns with the broader economic goals of the Nigerian government. Also, their presence on the board underscores the importance of the Family Homes Funds in the national economic agenda.
Additional Non-Executive Directors, including Mr. Sam Okagbue, Mr. Musa Ahmed, Dr. Eniang Nkang, and Ms. Bilkisu Usman, bring diverse expertise and perspectives to the board. Furthermore, their roles will be critical in providing strategic direction and ensuring that the Family Homes Funds operates transparently and efficiently.
Source: Punch
