Osun State Governor, Ademola Adeleke, has dethroned Joseph Oloyede as the Apetu of Ipetumodu following his conviction in the United States over COVID-19 relief funds fraud.
The governor’s spokesperson, Olawale Rasheed, announced the decision in a statement issued on Monday.
Oloyede was sentenced in August 2025 to 56 months’ imprisonment after defrauding the U.S. government of $4.2 million in COVID-19 relief funds.
Rasheed said the decision to depose the monarch followed the receipt of the Certified True Copy (CTC) of the judgment from the U.S. court by the Osun State Government.
He noted that the state had earlier directed the Ministry of Local Government Affairs to formally request the document from the U.S. authorities.
According to the statement, the deposition order, signed on May 7, 2026, was based on the need to uphold peace, order, and the integrity of the traditional institution.
“The fraudulent conduct of Oba Joseph Oloyede, as established by the U.S. court, has brought the stool of the Apetumodu of Ipetumodu into disrepute,” the statement said, adding that the action was necessary to preserve the honour of the royal institution.
The government consequently declared the stool vacant, stating that due process would be initiated to appoint a new Apetumodu.
Details of Conviction
The presiding judge, Christopher Boyko, sentenced Oloyede after he pleaded guilty to charges including wire fraud, filing false tax returns, and engaging in monetary transactions involving criminally derived property.
In addition to the prison term, the court ordered the monarch to serve three years of supervised release and pay restitution amounting to $4,408,543.
Authorities also directed the forfeiture of his residence in Medina, Ohio, and $96,006 earlier seized during investigations.
Oloyede was arrested in April 2024 alongside Edward Oluwasanmi, a Nigerian pastor, in connection with the fraud.
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