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 by
celebrities, focusing on Bobrisky and Cubana Chief Priest. Utilising a descriptive survey
design, 374 AE-FUNAI students were surveyed using the Taro Yamane method. Celebrity
Endorsement theory was adopted to explain the behavioural pattern, while three research
questions and objectives guided the study. Data was analysed using percentages and a 4-point
Likert scale mean value method. Findings revealed that respondents are aware of naira abuse
on social media. Naira abuse has significant negative socio-cultural and economic impacts if
left unchecked. Respondents acknowledged whistle-blowing on violators of naira abuse on
social media as a definite approach to curbing misuse of naira, amongst other stricter regulatory
measures. Recommendations include enhanced collaboration between the CBN, NOA, and
social media platforms to address this issue, teamwork with celebrities to generate awareness
against misuse of the naira, encouraging Federal lawmakers to make more stringent laws on
misuse of the naira, the increased presence of EFCC in Nigerian universities to checkmate the
excesses of students and Cultural orientation by parents to instil a sense of contentment and
respect for honest labour and genuine jobs.