The Osun state sovernment has deposed the Apetumodu of Ipetumodu in Ife North Local Government Area of the state, Oba Gbenga Joseph Oloyede, with immediate effect.
A statement issued by the Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi, said the decision followed due consultation, legal review, and approval by the State Executive Council.
The statement noted that the action was taken in accordance with the Osun State Chiefs Law (as amended) and other relevant legal provisions guiding traditional institutions in the state.
It added that the staff of office and all instruments of authority earlier issued to the monarch have been withdrawn, and the stool of the Apetumodu of Ipetumodu has been declared vacant.
The deposed monarch who is a dual citizen of Nigeria and the United States, was sentenced by U.S. District Judge Christopher A. Boyko to four years in prison on August 26, 2025. He was convicted of leading a conspiracy to exploit COVID-19 emergency loan programmes intended to support struggling small businesses.
According to the US Attorney’s Office for the Northern District of Ohio, the deposed monarch forfeited his Medina, Ohio, home, purchased with proceeds of the scheme, and an additional $96,006.89 traced to fraud.
He was also ordered to serve three years of supervised release and pay $4,408,543.38 in restitution.