November 21, 2017

President Muhammadu Buhari has withheld assent to the Federal University of Wukari Establishment Bill, 2017 and Chartered Institute of Treasury Management Establishment Bill.

President of the Senate, Dr Bukola Saraki, made this known while reading letters to that effect at plenary on Tuesday.

Both letters were dated Nov. 8, 2017, and the one containing withholding of assent to the Federal University of Wukari Bill indicated that it was not assented to because of use of certain words.

“The word `Statute’ should replace `Regulation’ throughout the Bill for consistency.

“Paragraph 9(1) of the First Schedule should refer to `the President and not `the visitor’.

“Paragraph five of the Third Schedule should refer to sub-paragraph (2) and not sub-paragraph (3),’’ the letter stated.

On the Chartered Institute of Treasury Management Bill, the letter indicated that assent was withheld due to the scope and phrases used.

According to it, the phrase “treasury management’’ is not defined in the Bill.

“Greater clarity may be required regarding the impact of the Bill on the Central Bank of Nigeria’s regulation of treasury managers in banks.

“And also, the relationship between the proposed institute and other existing professional institutes that regulate treasury managers in Nigeria,’’ the letter stated.

Meanwhile, three Executive Bills were sent to the senate for consideration.

The request for the consideration of the bills is contained in letters dated Oct. 31, 2017.

The Bills are Federal Institute for Industrial Research Bill, 2017; Nigeria Natural Medicine Development Agency Establishment Bill, 2017 and Raw Materials Research and Development Council, Repeal and Re-Enactment Bill, 2017.

Buhari urged the senate to expeditiously consider and pass the bills.