Members of the Senate Committee on Capital Market in Nigeria have raised concerns regarding the N16 million spent by the Investments and Securities Tribunal (IST) on cleaning and fumigation services in 2025. This expenditure was highlighted during a budget defense session, where IST's chairman, Aminu Junaidu, responded to questions about the tribunal's financial management and budget performance. The IST is a specialized court established under the Investments and Securities Act 2007 to expertly adjudicate disputes in the capital market.

During the session, Junaidu mentioned that the tribunal spent N16 million of the N30 million budgeted for cleaning and fumigation in 2025, which draws scrutiny due to the significant amount allocated for what appears to be routine maintenance. The Senate committee, led by Senator Osita Izunaso, is looking into budget allocations and expenditures, signaling a broader concern about financial oversight and accountability among government agencies in Nigeria, especially as they gear up for future budget cycles.

This situation raises important questions about the effectiveness and transparency of public spending in Nigeria. As institutions like the IST handle critical functions in capital market operations, ensuring that funds are used efficiently is crucial for maintaining investor confidence and upholding the integrity of the markets. The inquiry underscores the ongoing need for stringent fiscal discipline and accountability in public office, to ensure that taxpayers' money is utilized judiciously for its intended purposes.