The 27-year-old will rival Max Conway for a place at left-back, following discussions with the Bolton boss, who wants him to play in a similar role to the one George Johnston played last season.
Famewo did play left-back at Hull last year, deputising for the injured Ryan Giles and Matty Jacob, but has played most of his career as a centre-back.
Schumacher sees him in a wider defensive role, however, and is not currently looking to sign another full-back.
"When I spoke to Akin he prefers to play as a left-sided centre-back," Schumacher told The Bolton News.
"He has played in a back three as a left-side centre-back, he's played in a back four, and I think he's really good at that position.
"But I explained how we play and how he did it in the back half of last season when George Johnston played at left-back, and I said with his attributes and his physicality and his experience of the Championship, I think he'll be a really good fit there with Max Conway.
"Max is a young one whose main strengths, you would say, is getting forward, Akin's main strength is defending, so I have got a really good balance there.
"I have got a young one and an experienced one who can both play in their positions, but it doesn't mean I'll never play Akin at centre-back either, because he's obviously capable of doing that as well."
Conway was one of last season’s success stories, coming back from a loan spell in League Two with Crewe, the Academy graduate seized his opportunity to make 48 appearances across all competitions.
Only Johnston and Eoin Toal played more league minutes than Conway, who racked up 3,191, and started 35 of the 46 games in the regular season.
By his own admission, Schumacher did not expect the 22-year-old to feature as much as he did – and as such, he is refusing to make the same sort of predictions as the club moves up to Championship level.
"Some people just surprise you," he shrugged.
"Max, I openly said, I didn't expect him to play, and I think he played 23 games on the spin, league games, which is a lot.
"And for a young player who at the start of the season was probably going to be second choice to Richard Taylor, it was great.
"He did really well.
"He got in the team because Richard was injured and progressed, and certainly in the first half of the season he was outstanding.
"He picked up an injury, which meant Jono went in there, and then he came back strong towards the end of the season.
"Max is one who has got really good potential, and he just might take that next step, because we've seen players do that over the years as well, so it's over to him."