A new debate about wealth and values is trending in Nigeria’s pop culture.
It pits two of the country’s most recognisable businessmen, Pascal “Cubana Chief Priest” Okechukwu and Cosmas Maduka, founder of the Coscharis Group, on opposite sides of a generational divide.
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The phrase at the centre of the argument, “Money na Water”, has evolved from a viral catchphrase into a broader cultural statement about how Nigerians think about success and spending.
The phrase that started it all
The slogan “Money na Water” gained traction in April 2024, when the nightlife entrepreneur was arraigned by the Economic and Financial Crimes Commission (EFCC) for alleged naira abuse.
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After being granted N10 million bail, Cubana Chief Priest took to Instagram to thank his supporters, writing: “Seeing all your messages & love, I am so humbled. Now it’s confirmed that the CP is not small. Money na water.”
Since then, the phrase has become a personal mantra for Cubana Chief Priest and his circle, a declaration of affluence.
But not everyone agrees with its message.
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Enter Cosmos Maduka
In a Monday video posted on his Instagram page, billionaire businessman Mr Maduka called the popular saying “reckless and misleading.”
The 66-year-old industrialist argued that no genuine wealth builder would utter such a phrase, insisting that true prosperity is rooted in discipline, prudence, and purpose.
He said: “Money stays with those who respect it — people who save it, invest it, and multiply it. When such individuals give, they do so decently and purposefully, to solve the real challenges of people experiencing poverty — not to waste it on vanity or fleeting pleasures.
“We must kill this toxic phrase, ‘Money na Water.’ It’s a dangerous mindset — one that has fueled greed and criminality across Africa, driving many to do anything to make money and show off. True wealth doesn’t make noise. It’s intentional, disciplined, and effective. God bless you all!”
Not wastefulness
Hitting back at Mr Maduka’s criticism, Cubana Chief Priest noted in a now-deleted Instagram Story on Wednesday that the slogan represented a modern-day philosophy of abundance and flow.
He added that the slogan wasn’t a call to wastefulness.
The businessman further clarified that the slogan was not an act of vanity but a reflection of excess liquidity, prosperity, and continuous flow.
Cubana Chief Priest, a musician, said, “With all due respect to the motivational speaking older generation who built wealth quietly, the world you thrived in is not the one we live in today. In your time, capital was factories, fleets, and real estate. In our time, attention is the main capital. These capitals listed cannot sell in today’s market without significant capital attention (visibility).
“Visibility has become the new currency. In a digital economy, obscurity is bankruptcy. What you don’t show doesn’t sell. What you don’t amplify dissolves into silence. We are the noise, that’s why you know us to the extent you had to use us to make references in your dry speech, because you want to use us to trend without paying us, that’s why you’re running when you see us, you don’t want to show us real love.”
Nnewi billionaires list
He also stated that Mr Maduka doesn’t belong to the billionaires list, including Femi Otedola, Tony Elumelu, and Aliko Dangote, among others.
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He accused the businessman, who once appeared on CNN’s “Marketplace Africa” with Zain Asher, of pretending to use the toilet as an excuse to slip away from an event whenever such a topic was raised.
“Silence once symbolised power; today’s presence does. You mentioned Elumelu, who is my mentor in the corporate sector. He doesn’t just say money na water; Papa lives it. Likewise, Don Otedola. These are people who used their wealth to give Africa proper visibility. That’s why you can publicly identify with them. They are not the only billionaires you know. Why didn’t you use our billionaires?
“You keep mentioning those who know how to spend their money, but why don’t you use examples of people who like to hoard money like you? There are plenty of them in the main market. You did so because you know they do more for Africa with their money, and how they spend it commands respect for Africa. Remove your name from that Otedola & Elumelu list, you don’t belong there, sir, your name dey nnewi billionaires list”, said CP.
He further stated that Mr Maduka’s generation built fences to safeguard their wealth because they were unwilling to help others.
Cubana Chief Priest said his generation builds platforms to showcase and share wealth.
He noted, “That’s a lot of stress for a real billionaire. Water moves, so do relevance, visibility, and influence. The ability to attract attention and sustain engagement is the new oil field. Today’s man with massive attention has more leverage than one with quiet billions but no presence.
“Content is not noise. Content is digital equity. In the same way factories produced wealth in the 80s, attention produces wealth today. We’ve moved from industrial capitalism to attention capitalism thanks to Zuckerberg.”
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