Dr. Cosmas Maduka, founder of Coscharis Group, has spoken out against the growing trend of extravagant spending and materialism in Nigeria
He condemned the mindset that equates wealth with wastefulness, citing examples of successful businessmen like Tony Elumelu and Femi Otedola who don’t flaunt their wealth.
Maduka described the trend as a “dead value system” that glamorizes recklessness and distorts the moral compass of younger generations.
He emphasized that true wealth is quiet, disciplined, and purpose-driven, not loud and wasteful.
According to Maduka, real prosperity should inspire humility, not arrogance, and the normalization of extravagant lifestyles destroys the principles of hard work, responsibility, and integrity.
He urged Nigerians, especially the youth, to resist the influence of social media displays that promote vanity and quick gratification, warning that such values harm personal growth.
“I have never heard Tony Elumelu say ‘money na water.’ I have never heard Femi Otedola say it. And I’ve never said it myself, when I attend a function and people start throwing money in the air, I quietly walk away. This madness must stop.” He said
Maduka concluded, “When we were growing up, rich people didn’t make noise. All these people making noise today never made real money. We are passing on a deadly culture to our children. That’s not how to build a value-driven society.”
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