The Senate Committee on Capital Market in Nigeria has raised concerns regarding the N16 million spent by the Investments and Securities Tribunal (IST) on cleaning and fumigation services in 2025. This expenditure was brought to light during a budget proposal defense by the tribunal's chairman, Aminu Junaidu, who revealed that the IST utilized N16 million of the N30 million budgeted for this purpose. Members of the committee are scrutinizing this spending as part of their oversight responsibilities to ensure accountability in public funds.

Established under the Investments and Securities Act 2007, the IST serves as a specialized fast-track civil court for the resolution of disputes in the capital market, with the authority to adjudicate issues pertaining to investors and market operators. The tribunal's operations, which also include providing expert adjudication, have implications for the integrity and efficiency of Nigeria's capital market. The queries posed by the Senate committee highlight the importance of financial oversight and transparency in government institutions, particularly those that deal with significant market operations.

Furthermore, Chairman Aminu Junaidu emphasized that the fumigation is conducted quarterly to maintain the tribunal’s premises and prevent damage caused by rodents. While the tribunal's mandate involves critical adjudicative functions, balancing operational costs with necessary maintenance becomes an essential aspect of governance. This ongoing investigation reflects broader concerns about public expenditure in Nigeria and the need for institutions to justify their financial decisions, especially in times of budgetary constraints.