CHALLENGES OF NAIRA REDESIGN ON ACADEMIC ENGAGEMENT OF UNIVERSITY STUDENTS IN ANAMBRA STATE (IMPLICATIONS FOR SOCIETAL DEVELOPMENT)

Abstract

The study investigated challenges of Naira redesign on academic engagement of university students in Anambra state. Three research questions guided the study. Descriptive survey research design was adopted for the study. The population of the study was 23,621 students in Anambra state. A sample of 600 students was taken. The sample was composed using the multistage sampling technique which includes proportionate and simple random sampling technique. Data were collected using questionnaire. The questionnaire was duly validated and its internal consistency was ascertained using Cronbach Alpha. Mean was used to analyze the data collected. Results revealed that the reason for redesigning naira in 2023 was clear and good. However, the methods used by CBN in the process of implementing the new naira note were not favourable to millions of Nigerians more particularly students. This is because most students did not have enough money to provide learning materials for themselves because of scarcity of cash and their parents were unable to send them money for their school fees because of poor network among banks. Some students could not even go to school every day because they lacked cash for transportation to school, some of the students could not purchase reading materials within the period and some found it difficult to buy food to eat. It is clear that academic activities were hindered.  This led to the conclusion that naira redesign hindered students academic engagement in Anambra state public universities. Based on the findings of the study, it was recommended among others that Government should mandate all transporters and motorcyclist plying within the school campus to open bank accounts so that students can engage in digital financial transaction.