Billionaire businessman and founder of Coscharis Group, Dr. Cosmas Maduka, has spoken out against the growing trend of flaunting wealth on social media and in public gatherings.
Speaking at a recent public forum, Maduka condemned the popular slang “money na water,” which many use to justify reckless spending and extravagant displays of affluence.
The respected entrepreneur described such behavior as a “dead value system” that erodes morals and misleads the younger generation.
“Show me any wealthy man that has talked about ‘money na water.’ I’ve never heard Tony Elumelu say it, I’ve never heard Femi Otedola say it, and I’ve never said it myself,” Maduka said.
“When I attend a function and you start showing that madness of throwing money on people, I behave like I am going to the toilet — you will not see me again. These are the bad cultures and value systems that we have learned.”
He went on to stress that true wealth brings humility, not arrogance or noise.
“When we were growing up, rich people didn’t make noise. All these people making noise today never made real money. If you make money, it makes you humble. It makes you keep quiet,” he continued.
Maduka urged Nigerians, especially the youth, to reject the glorification of materialism and instead focus on discipline, hard work, and integrity.
“We’ve embraced a deadly culture, and we are using it to train our children. Those things should stop. You shouldn’t clap hands for people like that — you should resent it,” he concluded.
Dr. Maduka’s statement has since sparked widespread discussion online, with many Nigerians applauding his message as a much-needed reminder in today’s social media age.
