Billionaire entrepreneur and founder of the Coscharis Group, Cosmas Maduka, has publicly criticized the extravagant public display of wealth and the practice of “spraying” money at social functions, describing the trend as a symptom of moral decay within Nigerian society.
Speaking on the ethics of wealth accumulation and display, Mr. Maduka argued that individuals who genuinely achieve success through hard work are typically marked by humility, not extravagance, and cautioned against the popular culture that glorifies excess
Maduka specifically took aim at the widely used phrase, ‘Money na Water,’ often attributed to flamboyant socialites, stating that successful business leaders do not subscribe to such a reckless view of finance.
”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 was quoted as saying.
He lamented that the excessive noise and showmanship surrounding wealth often come from those who “never made real money.” According to the business mogul, true financial success inherently inspires modesty.
The businessman further advised Nigerians to reject these practices, emphasizing that the current generation is embracing a “de@dly culture” that is eroding traditional values of integrity and modesty, urging citizens to show “resentment” instead of applause for such behaviors.
