Buhari Withholds Assent to TMI, Wukari University Bills


Damilola Oyedele in Abuja

President Muhammadu Buhari has informed the Senate of his decision to withhold assent to the Chartered Institute of Treasury Management Bill and the Federal University of Wukari Establishment Bill.

In a letter read by Senate President, Bukola Saraki, at plenary yesterday, Buhari said he withheld assent to the Chartered Institute bill because the term “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 the relationship between the proposed institute and other existing professional institutes that regulate treasury managers in Nigeria,” the letter read.
The president also informed the Senate that the rationale for withholding assent to the university establishment bill was regarding certain words and phrases utilised in the bill.

“The word ‘statute’ should replace ‘regulation’ through out the bill for consistency: paragraph 9(1) of the 1st schedule should refer to ‘the President’ and not ‘the visitor’ and paragraph 5 of the 3rd schedule should refer to sub-paragraph to sub-paragraph (2) and not sub-paragraph (3),” the president said.

Buhari also forwarded request for the consideration of two bills: the Raw Materials Research and Development Council (repeal and re-enactment) Bill and the Nigeria Natural Medicine Development Agency Bill.