Manufacturing Techno-Optimism: A Discourse Analysis of Nigerian Media’s Role in Legitimising the CBEX Crypto Scam

ABSTRACT What critical role did the Nigerian media play in enabling and legitimising the CBEX crypto scam that defrauded investors of over ₦1.3 trillion (approximately US$800 million)? The article answers this question by utilising critical discourse analysis to unravel how the Osun State Broadcasting Corporation (OSBC) and the Independent NG deployed linguistics in trust fabrication. It reveals that, while OSBC broadcasted a collectivist wealth rhetoric, Independent NG deployed an elitist narrative to resonate with the masses. These approaches exploit Nigeria’s postcolonial political economy, where predation is framed as unavoidable technological progress designed for large-scale poverty alleviation of African society. The article contends that institutional underfunding serves as the bedrock of media connivance, while techno-optimism functions within a neoliberal spectrum of fraud naturalisation in the global South. To this end, the article suggests legislating media accountability and the promotion of financial literacy at the grassroots level. Thus, it contributes to the discourse on understanding the intrinsic nexus between media and financial exploitation, advancing the need for systemic reforms to disrupt fraud ecosystems.