Nigerian billionaire and founder of Coscharis Group, Dr. Cosmas Maduka, has criticized the growing culture of flaunting wealth and reckless spending, saying the popular slang “money na water” reflects a dead value system that corrupts moral standards and misleads the younger generation.
In a passionate statement, Maduka said true wealth does not announce itself, stressing that modesty and humility remain the hallmarks of genuine success.
“I have never heard Tony Elumelu say ‘money na water.’ I’ve never heard Femi Otedola say it and I’ve never said it myself,” Maduka stated. “When I attend a function and people begin to throw money in the air, I quietly walk away. This madness must stop.”
The respected industrialist lamented that society now glorifies noise and extravagance instead of diligence and discipline.
He said that the new trend of throwing money at parties and displaying wealth publicly shows a decay in values and wrongly influences young Nigerians to equate loudness with success.
“When we were growing up, rich people didn’t make noise,” he said. “All these people making noise today never made real money. We have embraced a deadly culture and are now passing it on to our children, that’s not how to build a value-driven society.”
Maduka urged Nigerians to reject the “money na water” mentality and instead embrace integrity, hard work, and moderation, which, according to him, are the true foundations of lasting prosperity.
