Lagos, Nigeria – October 14, 2025 – In a viral video that’s sparking nationwide conversations, prominent Nigerian billionaire and Coscharis Group founder Dr. Cosmas Maduka has issued a stern rebuke against the rising trend of flaunting wealth through reckless spending and the popular slang “money na water.” The 70-year-old business mogul, known for his automotive empire and philanthropy, described the practice as a “deadly culture” that’s eroding societal values and misleading the youth.
Speaking candidly in the footage circulating on social media, Maduka questioned the authenticity of those who casually toss cash at parties or boast about disposable riches. “I’ve never seen a billionaire say ‘money na water.’ I’ve never heard Tony Elumelu say it, I’ve never heard Femi Otedola say it, and I’ve never said it myself,” he declared, emphasizing that true wealth breeds humility, not extravagance. He added, “When I attend a function and people start throwing money in the air, I quietly walk away. This madness must stop.”
Maduka, who built Coscharis from a modest trading venture into a conglomerate dealing in vehicles, heavy machinery, and real estate, attributed the phenomenon to a lack of “real money” earned through disciplined hard work. “All these people making noise today never made real money,” he lamented, warning that glorifying such displays corrupts moral foundations and instills a poverty mentality disguised as prosperity. The entrepreneur urged Nigerians to reject the vanity-fueled trend, calling for a return to modesty and integrity as cornerstones of success.
The remarks, shared widely on platforms like X (formerly Twitter), have resonated deeply, with users tagging influencers like Cubana Chief Priest—known for his lavish money-spraying antics at events—and praising Maduka’s wisdom. Posts echoing the sentiment have garnered thousands of engagements, highlighting a growing backlash against ostentation amid Nigeria’s economic challenges, including inflation and youth unemployment.
Maduka’s intervention comes at a time when social media amplifies celebrity excess, often at the expense of substantive role modeling. As a self-made tycoon who started with $500 in the 1970s, his words carry weight, reminding a generation that “闷声发大财” (a Chinese proverb for making a fortune quietly) aligns more with enduring legacy than fleeting spectacle.
Coscharis Group has not issued an official statement, but Maduka’s unfiltered advice continues to trend, prompting debates on wealth, culture, and responsibility in Africa’s most populous nation.