The Osun State Government has formally dethroned Oba Gbenga Joseph Oloyede as the Apetumodu of Ipetumodu with immediate effect, citing his conviction and imprisonment in the United States for fraud linked to COVID-19 emergency loan programmes.
The announcement was made on Tuesday in a statement by the Commissioner for Information and Public Enlightenment, Kolapo Alimi, who said the decision followed due consultation, legal review, and approval by the State Executive Council. The action was taken in accordance with the Osun State Chiefs Law, as amended, and other applicable legal frameworks governing traditional institutions.
All instruments of authority previously issued to the monarch, including the staff of office, have been withdrawn, and the stool of the Apetumodu of Ipetumodu has been declared vacant. Security agencies have been directed to maintain peace and order in the community, while residents, kingmakers, and stakeholders were urged to remain calm.
Oba Oloyede, a dual citizen of Nigeria and the United States, was sentenced to 56 months in prison on August 26, 2025, by United States District Judge Christopher A. Boyko. He was convicted of leading a conspiracy to exploit COVID-19 emergency loan programmes designed to assist struggling small businesses.
According to the United States Attorney’s Office for the Northern District of Ohio, the deposed monarch forfeited his home in Medina, Ohio, purchased with proceeds of the scheme, along with an additional $96,006.89 traced to the fraud. He was also ordered to pay $4,408,543.38 in restitution and serve three years of supervised release upon completing his prison term.
Ipetumodu is the headquarters of the Ife North Local Government Area of Osun State. Following his conviction, community stakeholders had accused the state government of delay in taking action, with some describing the handling of the situation as politically motivated.
The government said it would outline the process for succession in line with established customary and legal procedures in due course.
