Billionaire businessman and Coscharis Group founder, Dr. Cosmas Maduka, has expressed concern over the growing culture of flaunting wealth and spraying money at social events, describing it as a sign of moral decay.
Maduka said true wealth is marked by humility, not extravagance, adding, “I have never seen a businessman say ‘money na water.’”
He criticized flamboyant socialites, noting that many who display wealth publicly have not made “real money.” According to him, such acts send the wrong message to the youth and erode values of modesty and integrity.
Maduka urged Nigerians to uphold discipline, dignity, and respect for wealth earned through hard work, warning that the trend of glorifying excess is corrupting the mindset of the younger generation.
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.
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 de@dly culture and we are using it to train our children. Those things should stop.’
You shouldn’t clap hands for people like that, you should resent it”
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