The two bills are the University of Wukari establishment bill, 2017 and Chartered Institute of Treasury Management establishment bill 2017.
The president’s decision to withhold assent to the bills was contained in two separate letters which Senate President Bukola Saraki read on the floor of the upper legislative chamber on Tuesday.
Buhari explained that he chose not to sign the bills because of “certain words and phrases” used in the bills.
“Pursuant to section 58 (4) of the constitution of the federal republic of Nigeria 1999. I hereby convey to the senate my decision on the 25th of October, 2017 to withhold assent to the University of Wukari establishment bill 2017,”the letter read.
“The rationale for withholding assent is regarding certain words and phrases utilised in the bill.
“For instance statutes should replace regulation throughout the bill for consistently. Paragraph 9 (1) of the first schedule should refer to the president and not the visitor and paragraph 5 of the first schedule should refer to sub-paragraph 2 and not sub-paragraph 3.
“The phrase treasury management is not defined in the bill, greater clarity maybe required regarding the impact of the bill of the central bank’s regulation of treasury managers in banks and the relationship between the professional institutes and other existing professional institutes that regulate treasury managers in Nigeria.
“Please accept senate president assurances of my highest consideration.” SHARE YOUR STORY WITH US VIA EMAIL: INFO@247NIGERIANEWSUPDATE.CO RECEIVE NEWS VIA OUR WHATSAPP, KINDLY TEXT +234 701 056 0394 TO ADD YOU CLICK HERE TO JOIN US ON OUR YOUTUBE CHANNEL FOR NEWS UPDATE CLICK HERE TO JOIN US ON TWITTER FOR INSTANT NEWS UPDATE: @247NGNEWSUPDATE CLICK HERE TO JOIN MILLIONS AROUND THE GLOBE TO READ NEWS ON OUR FACEBOOK FAN PAGE FOR INSTANT UPDATES ON INSTAGRAM CLICK HERE RECEIVE INSTANT NEWS UPDATE VIA OUR BBM BROADCAST: D3EDEFDF PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>