Elizade Boss, Michael Adeojo Again, Acquires 25 Hectares Of Land At Ibafo For Mysterious Purpose!

The dust is yet to settle on disclosure he acquired two private jets to be used for commercial flights- and something new is out about Auto mogul, Chief Michael Adeojo again.

Informants divulged the 74yrs old is now the owner of 25 Hectares of land, at Ibafo- by Lagos Ibadan expressway.

He reportedly perfected the arrangement ‘very recently’ disclosed an insider.

Mr Adeojo- the driving force that kick started the successes of Elizade Motors and Toyota Nigeria, is said to have acquired the ‘property’ via bailing out an allegedly ‘ spiralling out of control investment’.

Other parties were said to have purchased the Hectares via bank loan to establish ‘an international market’- but the main promoter was said to have passed on.
Chief Michael Adeojo, Elizade Boss

The project was tagged ‘in limbo and going bad’- when Mr Adeojo, another public of the financial institution got wind of the development.

He offered to buy up the property and issues of ownership was sorted out and transferred.

The father of Demola, the Managing Director at Elizade and Deola, the fashion designer operating under the trade name, Oodua is said to have ordered all the 150 plots of land (an Hectare is 6plots) cleared.

But the purpose of the acquisition remains a mystery to those in the know.

‘We are all at a loss with what he wants to do with so much land’ an insider maintained.

Properly wants to delve into real estate on a major scale is the speculation at present.

But the probability of that in the face of perfecting arrangement to kick off another major investment, his ‘Jet for hire’ enterprise doesn’t look that bright.

Whatever the case according to a source, the days ahead will soon shed light on what the owner of Elizade University intends with 25 hectares of land- ‘so it is just a case of waiting game now’.