The Chairman and Founder of the renowned Coscharis Group, Dr. Cosmas Maduka, has broken his silence regarding the recent controversy surrounding his comments about Nigeria’s changing value system and the viral slogan, “money na water.” His statement comes amid ongoing debates after nightlife entrepreneur and socialite Cubana Chief Priest appeared to take offense at the remarks, interpreting them as a veiled criticism of his lifestyle and public persona.
In a message shared by Stephen Akintayo, the Chairman of Gtext Homes, via Instagram on Wednesday, October 15, Maduka clarified that he holds no personal grudge against Cubana Chief Priest and had never made any direct reference to him. The respected billionaire businessman explained that his earlier remarks were a general reflection on the erosion of moral and financial discipline in Nigerian society, not an attack on any individual.
His words …
“I have just discovered also the above, even though I never met him nor attended any of his events, and if I did, I cannot remember. I never had him in mind when I said what I believed was a wrong value system we have embraced. I respect his views because he is entitled to his opinion, and I wish him the best of life. May God bless him.”
Cosmas Maduka criticizes ‘Money na Water’ phrase
The clarification follows public reactions to a viral video where Maduka criticised what he described as a growing culture of “reckless showmanship” and financial irresponsibility in society. In the video, the respected entrepreneur discouraged Nigerians from glorifying wealth without purpose, stressing that the phrase “money na water” promotes a dangerous mindset that undermines the principles of hard work and accountability.
According to Maduka, the true essence of wealth lies in discipline, value creation, and societal impact — not in flamboyance or waste. “I have never seen a truly wealthy man say money is water,” he said, adding that people should develop the habit of investing and saving rather than treating money as something to flaunt or misuse.”
His comments were, however, interpreted by many as a subtle jab at Cubana Chief Priest, who popularized the phrase “money na water” to represent financial abundance, ease, and freedom from economic struggles. The socialite, known for his luxurious lifestyle and social influence, had used the slogan as part of his brand identity, celebrating financial success and confidence in wealth circulation.
Cubana Chief Priest claps back
In response, Cubana Chief Priest fired back on Instagram, accusing Maduka of holding on to outdated ideologies that no longer define modern-day success. He argued that the 21st-century economy is powered by attention, visibility, and influence — elements that the older generation often fails to understand.
He wrote, “With all due respect, sir, your time was different. Today, visibility is the new currency. Content is digital equity, not noise. What used to be factories and warehouses has become online platforms and digital assets. The world has moved forward, and those who adapt will continue to thrive.”
The businessman further explained that phrases like “money na water” simply symbolize the fluid nature of money — a resource meant to flow, multiply, and benefit others — not a sign of waste or arrogance.
While the exchange between the two men sparked debates across social media, many Nigerians commended Maduka’s calm response and maturity in addressing the misunderstanding. Others praised both figures for representing different eras of entrepreneurship in Nigeria — Maduka’s discipline-driven generation and Cubana Chief Priest’s visibility-based modern business culture.
The conversation has reignited national discourse on the meaning of wealth, success, and the evolving values of Nigerian society. Some observers note that the dialogue between the old and new generations of entrepreneurs may ultimately inspire a balance between humility, innovation, and responsible financial behavior.
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