“Rich People Don’t Flaunt Wealth” — Coscharis Chairman Maduka Criticises Lavish Culture!

Reported by Marian Opeyemi Fasesan | Sele Media Africa

Dr. Cosmas Maduka, billionaire entrepreneur and Chairman of Coscharis Group, has spoken out against the rising culture of ostentation and financial recklessness among Nigerians, especially at parties and social events.

What He Said:

• At a recent business forum, Maduka condemned the slang “money na water,” describing it as a dangerous mindset that encourages wasteful spending.
• “Truly wealthy people don’t show off. They invest, build, and serve,” he noted.
• He urged youths to focus on value creation and legacy building rather than temporary displays of affluence.

Why It Matters:

• His comments challenge the popular narrative that associates wealth with visible extravagance.
• As a respected business icon known for his humble lifestyle, Maduka’s voice adds weight to ongoing conversations about responsible wealth and social values in Nigeria.

Citations:

1. Channels TV – www.channelstv.com
2. The Guardian Nigeria – www.guardian.ng
3. Coscharis Group – Press Statement, Oct. 2025

About The Author

Marian Opeyemi Fasesan

Marian Opeyemi Fasesan is a dynamic journalist and editorial leader committed to excellence in news reporting and storytelling. As the Managing Editor of Sele Media Africa, she ensures daily operations run smoothly while upholding the highest editorial standards. With a strong eye for detail and deep understanding of audience engagement, Marian coordinates content across platforms, guiding teams to produce compelling, timely, and credible news. Her leadership reflects the heart of Sele Media Africa’s mission—to inform, inspire, and elevate voices across the continent.

See author's posts