Nigerian billionaire and founder of Coscharis Group, Dr. Cosmas Maduka, has criticised the popular slang “money na water” made famous by socialite Cubana Chief Priest, calling it a symbol of a decaying value system.
In a viral video, Maduka condemned the growing culture of reckless spending and public display of wealth, saying it promotes moral decay and sends the wrong message to young Nigerians.
“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,” Maduka said. “When I attend a function and people start throwing money, I quietly walk away. This madness must stop.”
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The billionaire businessman stressed that genuine wealth inspires humility, not arrogance. He described the “money na water” trend as a wasteful and destructive mindset. “When we were growing up, rich people didn’t make noise. Those shouting today haven’t made real money,” he added.
Maduka urged Nigerians to reject the glorification of flamboyance, warning that such habits destroy discipline, hard work, and moral integrity.
Dr. Cosmas Maduka, who started his business in 1977 selling spare parts, is now one of Nigeria’s most respected entrepreneurs. Through his Coscharis Group, he holds franchises for brands like BMW, Jaguar, Rolls-Royce, and Ford.
Despite lacking a university degree, he attended Harvard Business School’s executive programme and has received multiple national honours, including the Commander of the Order of the Niger (CON).
The statement has sparked debates among Nigerians, especially after Cubana Chief Priest responded fiercely with a series of posts on his Instagram page. First he said he was going to address the meaning behind the ‘money na water’ slang. Cubana Chief Priest said, it is better to say money na water, that being ina forgery investigation, slightly throwing a sub at Dr. Cosmas Maduka.
