Billionaire and Coscharis Group founder, Dr. Cosmas Maduka has condemned the trend of extravagant spending and flaunting of wealth at social events, criticising the phrase “money na water” that justifies such actions.

In a viral video, he called this a “dead value system” that promotes wastefulness and misguides youth.

Maduka stressed that true wealth, as shown by figures like Tony Elumelu and Femi Otedola, is marked by humility, not ostentatious displays.

“Tell 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 money na water and I’ve never said money na water,” Maduka said.

He said he exits events where such behavior occurs, decrying it as a harmful cultural shift.

“When I come to a function and you start those madness, start throwing money up on people, I behave like I’m going to the toilet and you will not see me again because these are dead value system, bad culture that we have learned and it became invoked in this state,” he added.

Urging Nigerians to reject this glorification of excess, Maduka warned it negatively influences the younger generation and called for such acts to be resented, not celebrated.

“When we are growing up, rich people don’t make noise. All these people that make noise, they never see money. Tweet it to people and say that I said so,: he said.

“If you make money, it makes you humble, it makes you keep quiet. We have embraced very deadly bad culture and we are using it to train our children. Money na water, those things should stop.

“You shouldn’t clap hands for people like that, you should resent it,”he added. (THE NATION)