Billionaire businessman and founder of Coscharis Group, Dr. Cosmas Maduka, has strongly criticised the growing trend of flaunting wealth and reckless spending at social gatherings, denouncing the popular slang “money na water” often used to justify such behaviour.
In a viral video, Maduka expressed deep concern over what he described as a “dead value system” that glorifies waste and misleads young people.
“I’ve never heard Tony Elumelu or Femi Otedola say ‘money na water,’ and I’ve never said it myself,” he stated. “When I attend a function and people start throwing money in the air, I quietly walk away. This madness must stop.”
Maduka lamented the erosion of modesty and humility, which he described as the true hallmarks of genuine wealth in the past.
“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 urged Nigerians to reject the glorification of wasteful spending, warning that the “money na water” mentality undermines discipline, hard work, and moral integrity.
“Real money inspires humility, not arrogance,” he added.
Maduka’s remarks have sparked widespread reactions on social media, reigniting public debate over the growing culture of ostentation among Nigeria’s wealthy elite.
