Collapsed building land: Elizade founder, Chief Ade-Ojo opens up

Chief Michael Ade- Ojo, founder of Elizade Motors and Elizade University, Ilara Mokin, Ondo State, reacted to a report that he sold the land on which the building that collapsed in Ikoyi on Monday was built to Vice President Yemi Osinbajo.

In a statement he personally signed on Thursday, he said he owns the land adjacent to the property on Gerald Road but debunked the report by an online medium (Saharareporters) that he sold the land where the collapsed property was built.

He added that although he owns the next property to the crumbled building, he has no intention of selling it.

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The statement reads in part: The story titled “Photo Proof: Osinbajo bought the Ikoyi collapsed building” published on November 4,2021, also claimed that I sold the land to the Vice President, Prof Yemi Osinbajo, shortly after he became Vice President, both claims are outright falsehoods. I hereby state that I do not own and never held title to the said property.

“In addition, I did not sell any land to the vice President at any time whatsoever. To be clear, I own a property next to the said building, which I have not sold and do not intend to sell to anyone.”

SaharaReporters, in an exclusive report had linked Vice President Osinbajo linked to the Lagos collapsed building which had killed over 40 persons, including the developer, Femi Osibona, with a yet-to-be-ascertained number of persons still trapped beneath the rubble.

According to the online newspaper, the landed property was bought by Osinbajo from Chief Michael Ade-Ojo, founder of Elizade Motors (Elizade Nigeria Limited) shortly after he became the Vice President.

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“The Vice President has a lot of properties in the area, he is using his brother to manage the properties. The developer, Femi Osibona is only fronting for him. Osinbajo even bought another property for his brother in the area, it’s at Mosley Street. The brother is the one managing it personally, he comes there almost every time,” the report said.

According to the report, Osibona, Fourscore Managing Director was only a front in this project.

According to Highbrow Living Magazine, the collapsed property, comprising four-bedroom maisonettes, flats, duplex and penthouses, was 65 percent sold out.

The price range for the apartment is also said to be between $1.2 million and $5 million.

“The 20-floor strictly residential facility is the brain work of Fourscore Homes, evolving from a desire to build an original masterpiece. The concept is to have service flats in the three towers for residents to experience a stress-free lifestyle, complete with a hotel flair with a 360-degree view of Lagos state,” the magazine reads.

The structure was said to be 80 percent completed and was billed to be concluded in 2022.