The Nigerian Senate Committee on Capital Market is scrutinizing the Investments and Securities Tribunal's (IST) spending of N16 million on cleaning and fumigation services in 2025. The members of the committee expressed concern over the extravagant expenditure during a time when many citizens are facing significant economic hardship, suggesting a misallocation of funds. This investigation comes in light of the tribunal's upcoming budget proposal for 2026, which has put the financial operations of the IST under closer examination.

The IST is a specialized court established to expedite civil disputes in the capital market sector, ensuring that investors receive expert adjudication. The tribunal, created under the Investments and Securities Act of 2007, aims to support a well-functioning market by resolving conflicts swiftly. However, the Senate panel's questioning raises critical queries about the agency's financial priorities and operational transparency, especially when many sectors are struggling.

The Chairperson of the tribunal, Aminu Junaidu, defended the IST's budget, indicating that the cleaning services were necessary for maintaining a safe and healthy work environment. Nonetheless, the significant spending on fumigation against the backdrop of unaddressed public concerns regarding economic stability highlights a potential disconnect between government spending and the realities faced by citizens, increasing scrutiny on the IST's future financial decisions and overall accountability to the public.