Billionaire businessman and founder of the Coscharis Group, Cosmas Maduka, has once again stirred reactions after speaking out strongly against the increasing public display of wealth and the act of spraying or throwing money at social events, which he described as a reflection of the moral decline and value distortion in modern Nigerian society.
According to Maduka, this flamboyant lifestyle and culture of showing off wealth in public gatherings reveal not genuine success, but rather a lack of discipline and poor upbringing. He emphasized that true wealth is not noisy or arrogant but is characterized by humility, wisdom, and quiet confidence.
Cosmas Maduka condemns flashy lifestyles and moral decay
Speaking passionately on the issue, the renowned industrialist expressed disappointment at how money is being thrown around carelessly at parties, weddings, and concerts, saying such actions do not represent the values of true wealth creation. He explained that real millionaires and billionaires do not flaunt their riches for validation or attention.
Maduka further noted that many of those who engage in these acts of extravagance have not truly “made real money.” Instead, they use public display and attention-seeking behavior to mask insecurity and the absence of genuine success. He added that true success should inspire modesty, not madness.
“When we were growing up, rich men were calm, reserved, and full of wisdom. You would never know they had money unless you looked closely at their impact and generosity,” he said. “But today, what we have are noise makers — people who want to show off, not because they are truly rich, but because they crave validation.”
Dr. Maduka advises Nigerians to embrace humility and discipline
The respected entrepreneur called on Nigerians, especially the younger generation, to shun the rising culture of excess and instead embrace discipline, respect, and contentment. He warned that the trend of glorifying people who spray and waste money at events is corrupting moral values and damaging the mindset of children who are growing up believing that success is about showing off.
Maduka lamented that these habits are teaching the wrong lessons about hard work and integrity. He urged parents, religious leaders, and public figures to promote a new sense of responsibility toward wealth and success, reminding the public that prosperity without character leads to destruction.
He added that those who celebrate people for their wasteful spending should stop clapping and start questioning such behaviors, as they do not represent progress or success. “We are training a generation that will value vanity over virtue, and that’s dangerous for the future,” he warned.
It would be recalled that the viral phrase ‘Money na Water’ is widely attributed to popular socialite Cubana Chief Priest, who often uses it to emphasize the ease with which money should be spent or enjoyed. However, Maduka has now openly condemned such expressions as misleading and destructive to moral discipline.
In his words …
“Show me any wealthy man that has talked about ‘money na water’. I’ve never heard Tony Elumelu say ‘money na water,’ I’ve never heard Femi Otedola say it, and I’ve never said it myself. 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 because these are the bad cultures and value systems that we have learnt.”
He continued, “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. We’ve embraced a deadly culture, and we are using it to train our children. Those things should stop.”
He concluded by saying, “You shouldn’t clap hands for people like that, you should resent it.”
Watch the full video below …