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.
LIB reported that 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.”