The Osun State Government has deposed Oba Joseph Olugbenga Oloyede, the Apetumodu of Ipetumodu in Ife North Local Government Area, following his conviction and imprisonment in the United States of America.
In a statement issued in Osogbo on Tuesday, the State's Commissioner for Information and Public Enlightenment, Kolapo Alimi who said the removal takes immediate effect explained that the decision followed consultation, legal review, and approval by the State Executive Council, in line with the Osun State Chiefs Law and other statutes governing traditional institutions.
“All instruments of authority previously issued to the monarch have been withdrawn, and the stool of the Apetumodu of Ipetumodu is hereby declared vacant,” Alimi stated.
Oba Oloyede, who holds dual Nigerian and U.S. citizenship, was sentenced to four years in federal prison by U.S. District Judge Christopher A. Boyko on August 26, 2025.
He was convicted of leading a conspiracy to defraud COVID-19 emergency loan programmes meant for struggling small businesses.
According to the U.S. Attorney’s Office for the Northern District of Ohio, Oloyede forfeited his home in Medina, Ohio — purchased with proceeds from the scheme — and an additional $96,006.89 traced to the fraud.
He was also ordered to serve three years of supervised release and pay $4,408,543.38 in restitution.
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