By Favour Osah
Billionaire businessman and founder of Coscharis Group, Dr. Cosmas Maduka, has criticised the growing culture of flaunting wealth and reckless spending at social events, condemning the popular slang “money na water” used to justify such behaviour.
In a viral video, Maduka expressed concern over what he described as a “dead value system” that promotes wastefulness and misleads the younger generation.
“I’ve never heard Tony Elumelu or Femi Otedola say ‘money na water,’ and I’ve never said it myself,” he said. “When I attend a function and people start throwing money in the air, I quietly walk away. This madness must stop.”
Maduka lamented that modesty and humility, once seen as the true marks of wealth, have been replaced by showiness and noise.
“When we were growing up, rich people didn’t make noise. All these people making noise today never made real money,” he said. “We’ve embraced a deadly culture and are now passing it on to our children. That’s not how to build a value-driven society.”
He further urged Nigerians to reject the glorification of wasteful spending, stressing that the “money na water” mindset destroys discipline, hard work and moral integrity.
“Real money inspires humility, not arrogance,” he added.
Maduka’s remarks have stirred reactions across social media, reigniting conversations about the rising showiness among Nigeria’s wealthy class.
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