“I’ve never seen a true businessman say ‘money na water’ — Cosmas Maduka warns against reckless display of wealth

Billionaire entrepreneur and Chairman of the Coscharis Group, Dr. Cosmas Maduka, has expressed concern over the increasing trend of public flamboyance and the reckless display of wealth at social gatherings, describing it as a sign of moral decline in today’s society.

Speaking in a viral video, Maduka condemned the culture of spraying money and “showing off” at parties, saying it reflects distorted values and a lack of proper upbringing. He emphasised that true wealth is accompanied by humility, not noise or extravagance.

“Show me any wealthy man who has ever said ‘money na water’. I’ve never heard Tony Elumelu say that, I’ve never heard Femi Otedola say it, and I have never said it myself,” Maduka declared.

The industrialist added that genuine success inspires restraint, not ostentation, noting that those who engage in excessive displays often lack real financial stability.

“When I attend a function and people start that madness of throwing money around, I quietly excuse myself. You won’t see me again. These are dangerous values we are now celebrating,” he said.

‘Money na water’ culture sends the wrong message

Maduka cautioned that this trend—popularised by some socialites such as Cubana Chief Priest—is shaping a generation that equates wealth with vanity. He warned that such behaviour is corrupting young minds and eroding traditional values of modesty, discipline, and respect.

“When we were growing up, rich people didn’t make noise. All these people showing off today never made real money. When you truly make money, it humbles you,” he said.

Call for a value reset

The Coscharis boss urged Nigerians to discourage these practices rather than celebrate them, stressing that society must rebuild a culture that honours hard work, humility, and integrity.

“We’ve embraced a dangerous culture and are now using it to train our children. It must stop. Don’t clap for people like that — resent it,” he concluded.

Maduka’s remarks have sparked widespread discussion online, resonating with many Nigerians who share his concerns about the country’s shifting moral compass.