NAIRA ABUSE BY NIGERIAN CELEBRITIES: PERSPECTIVES OF AE FUNAI STUDENTS ON BOBRISKY AND CUBANA CHIEF PRIEST CASES

Abstract

This study examines the misuse of the Nigerian Naira on social media bycelebrities, focusing on Bobrisky and Cubana Chief Priest. Utilising a descriptive surveydesign, 374 AE-FUNAI students were surveyed using the Taro Yamane method. CelebrityEndorsement theory was adopted to explain the behavioural pattern, while three researchquestions and objectives guided the study. Data was analysed using percentages and a 4-pointLikert scale mean value method. Findings revealed that respondents are aware of naira abuseon social media. Naira abuse has significant negative socio-cultural and economic impacts ifleft unchecked. Respondents acknowledged whistle-blowing on violators of naira abuse onsocial media as a definite approach to curbing misuse of naira, amongst other stricter regulatorymeasures. Recommendations include enhanced collaboration between the CBN, NOA, andsocial media platforms to address this issue, teamwork with celebrities to generate awarenessagainst misuse of the naira, encouraging Federal lawmakers to make more stringent laws onmisuse of the naira, the increased presence of EFCC in Nigerian universities to checkmate theexcesses of students and Cultural orientation by parents to instil a sense of contentment andrespect for honest labour and genuine jobs.