Billionaire and Coscharis Group founder, Dr. Cosmas Maduka, has openly criticized the growing trend of flaunting wealth at social events, particularly the phrase “money na water” that has come to justify excessive spending.
In a viral video, Maduka called the mindset a “dead value system” that encourages wastefulness and sets a harmful example for young people. He emphasized that true wealth, as demonstrated by prominent figures like Tony Elumelu and Femi Otedola, is grounded in humility rather than showy displays.
“Tell me any wealthy person who has said money na water. I’ve never heard Tony Elumelu say it. I’ve never heard Femi Otedola say it. And I have never said money na water,” Maduka said.
He revealed that he often leaves events where such behavior occurs, condemning it as a cultural shift with negative consequences. “When I attend a function and people start throwing money around, I behave like I’m going to the restroom and you will not see me again. These are dead value systems, a bad culture we have learned and allowed to spread,” he added.
Maduka urged Nigerians to reject the glorification of excess, warning that it misguides the younger generation. “When we were growing up, wealthy people did not make noise. Those who make noise today probably never understood the value of money. Money should make you humble, not loud,” he said.
He concluded with a strong call for change, insisting that this culture should be condemned rather than celebrated. “Money na water those things must stop. You shouldn’t clap for people like that, you should resent it.”
