The Federal Government has hired Cantor Fitzgerald, a highly regarded American investment bank which specialises in mortgage-backed securities, in a plan to help broaden the housing market and expand the range of mortgage offerings to Nigerians.

Paul C Nwabuikwu, Special Adviser to the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, disclosed this last night in Abuja.

He said that Okonjo-Iweala would today sign a Memorandum of Understanding (MOU) with Cantor Fitzgerald on behalf of the Federal Government.

“The time for the MOU signing between the Federal Government and Cantor Fitzgerald is 12pm. Venue is Conference Hall, Federal Ministry of Finance,” Nwabuikwu said in a short e-mail message.

He said that an update on the status of the Nigerian Mortgage Refinancing Company (NMRC) and the national mortgage programme launched last year by President Goodluck Jonathan would be given during the MOU-signing ceremony.

•Photo shows Okonjo-Iweala.