President Muhammadu Buhari has withheld assent to two bills forwarded to the him by the National Assembly. This was disclosed on Tuesday during the Senate plenary.
The bills are those for the Chartered Institute of Treasury Management and Establishment of Federal University, Wukari.
On the Chartered Institute of Treasury Management, Buhari said he was withholding assent due to ambiguity of some words and phrases in the bill.
In his letter to the Senate on the issue, the president said: “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 Chartered Institute of Treasury Management Establishment Bill 2017.
“The rationale for withholding assent are regarding the scope of phrases utilised in the bill.
“For instance, the phrase Treasury Management is not defined in the bill, greater clarity may be 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.”