The Osun State Government has dethroned the Apetumodu of Ipetumodu, Gbenga Joseph Oloyede, with immediate effect following his conviction in the United States for fraud.
Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi, said the decision came after due consultation, legal review and approval by the State Executive Council. He said the action complies with the Osun State Chiefs Law and other provisions guiding traditional institutions.
The staff of office and all instruments of authority issued to the monarch have been withdrawn, and the stool of the Apetumodu of Ipetumodu declared vacant.
The deposed monarch, a dual citizen of Nigeria and the US, was sentenced on 26 August 2025 by U.S. District Judge Christopher A. Boyko to four years in prison. He was convicted of leading a conspiracy to exploit COVID-19 emergency loan programmes meant for struggling small businesses.
According to the US Attorney’s Office for the Northern District of Ohio, Oloyede forfeited his Medina, Ohio home bought 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.
