Tuesday, May 12, 2026 - The Osun State Governor, Ademola Adeleke, has approved the deposition of Oba Joseph Oloyede as the Apetumodu of Ipetumodu.
The decision followed Oloyede’s conviction in the United
States of America for creating and leading a scheme that bilked more than $4.2
million from federal loan and grant programs that were intended to assist small
businesses for economic hardship they suffered as a result of the COVID-19
pandemic.
Oloyede, 62, who holds both U.S. and Nigerian citizenship,
was sentenced to 56 months’ imprisonment after he pled guilty to wire fraud,
making false tax returns and engaging in monetary transactions in criminally
derived property by the United States District Court for the Northern District
of Ohio, United States of America on August 26, 2025.
The spokesperson to the governor, Olawale Rasheed, announced
Oloyede's removal in a statement issued released on Monday, May 11, 2026 after
the receipt of the Certified True Copy of the Ohio court judgment, which
convicted the monarch.
“The Council
had justified the decision to contact the Ohio court on the ground that
governmental decisions should not be based on social media reporting alone,”
the statement read.
"In the
Deposition Order signed by His Excellency on 7th May, 2026, the action was
predicated on the need to maintain peace, order and good government as well as
preserve the honour and integrity of the royal stool.
"The
Deposition Order further stated that the fraudulent conduct of Oba Joseph
Oloyede, as found by the US court and which he pleaded guilty to, and his
public trial and conviction have brought the institution of Obaship and the
stool of Apetumodu of Ipetumodu to disrepute and public odium, hence the resort
to deposition.
"By
this deposition, the stool of Apetumodu of Ipetumodu has been declared vacant,
while the necessary process will be put in place to appoint a new Apetumodu of
Ipetumodu at the appropriate time.
“The
governor appeals to sons and daughters of Ipetumodu to remain peaceful and
law-abiding while the process of installing a new king is being
processed."
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