Billionaire businessman and founder of Coscharis Group, Dr. Cosmas Maduka, has condemned the growing culture of excessive spending and flamboyant displays of wealth at Nigerian social gatherings.
In a viral video circulating online, Maduka described the popular phrase “money na water”, often used to justify lavish spending, as a reflection of a “dead value system” that encourages waste and distorts moral values.
“Tell 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. I’ve never said it myself,” he stated.
The businessman, known for his humble lifestyle, said he often leaves events where people engage in such extravagant behavior. He criticized the act of spraying and throwing money at social functions, calling it a “bad culture” that has become normalized in society.
“When I come to a function and you start those madness, throwing money up on people, I behave like I’m going to the toilet, and you will not see me again,” he said. “These are dead value systems, bad cultures that we have learned and made fashionable in this state.”
Maduka urged Nigerians to stop glorifying excess and instead promote values that reflect discipline and humility. According to him, true wealth should inspire modesty rather than arrogance.
“When we were growing up, rich people didn’t make noise. All these people that make noise, they never see money,” he remarked. “If you make money, it makes you humble, it makes you quiet. We have embraced a deadly culture and we are using it to train our children.”
He called on the public to reject and speak out against such displays, emphasizing that celebrating financial recklessness sends the wrong message to young Nigerians.
“Money na water, those things should stop. You shouldn’t clap for people like that; you should resent it,” he added.
Maduka’s comments have sparked discussions online about the erosion of traditional values and the growing pressure among Nigerians to equate wealth with public display rather than quiet achievement.
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