Ratification of the United States Constitution by Rhode Island the convention instead set about drafting a new Constitution. Rhode Island was the only state to not participate in its proceedings. By April 1, 1789, the new constitution had entered into force after the required nine states had completed their ratification processes. The First United States Congress had already convened, and the Congress had already passed twelve proposed amendments, but Rhode Island still had not ratified the new Constitution and continued to effectively operate outside the new governmental structure. Opposition was chiefly due to the paper money issued in Rhode Island pounds since 1786 by the governing Country Party, intended
Federal Mortgage Bank of Nigeria Federal Mortgage Bank of Nigeria The Federal Mortgage Bank of Nigeria was founded by the Federal Government of Nigeria in 1977 to replace the Nigerian Building Society. Between 1978 and 1985, it was the only mortgage institution in Nigeria. According to the constitution of Nigeria, the Federal Mortgage Bank was established to meet the housing needs of all citizens of the country. It is regarded as the apex mortgage finance institution in the country and regulates the activities of primary mortgage loan originators. A direct government intervention to expand the mortgage industry in Nigeria, the bank was established by the