Nigeria’s Senate has questioned the management of the Investments and Securities Tribunal over N16 million reportedly spent on office cleaning and fumigation in 2025, saying the cost was high at a time many Nigerians face economic hardship.
The scrutiny came on Tuesday during a session of the Senate Committee on Capital Market, chaired by Senator Osita Izunaso (APC, Imo West), where the tribunal’s leadership defended its 2026 budget proposal.
The Investments and Securities Tribunal is a specialized civil court set up under the Investments and Securities Act to resolve capital market disputes, with decisions appealable at the Court of Appeal.
Tribunal chairman Aminu Junaidu told the committee that out of N30 million approved in the 2025 budget for cleaning and fumigation, the tribunal spent N16 million.
He said fumigation is done quarterly to protect sensitive documents from rodents and that cleaning services were outsourced to cover the tribunal’s zonal offices.
According to the tribunal’s performance report, it also spent N6.13 million on office stationery and computer consumables, which Junaidu said was necessary for preparing judgments and issuing certified true copies to applicants. However, he noted that fees collected for certified copies are paid directly into the Federal Government’s Treasury Single Account and not retained by the tribunal.