A circular released by the Central Bank of Nigeria and obtained by The Citizen newspaper, Thursday, revealed that the apex bank  is planning to peg the minimum capital base of a mortgage re-financing company at N5bn. The circular which stated that the CBN had approved the regulatory and supervisory framework for the operations of a MRC as an exposure draft, also provides framework for the licensing and establishment of a MRC as a specialised second-tier institution, which would provide short-term liquidity, long-term funding and/or guarantees to mortgage originators and housing finance lenders,”