Governor Ademola Adeleke has removed Joseph Oloyede as the Apetu of Ipetumodu following the monarch’s conviction in the United States over a multi-million dollar COVID-19 relief fraud scheme.
The governor’s spokesperson, Olawale Rasheed, disclosed the development in a statement issued on Monday, saying the decision followed the receipt of a Certified True Copy of the judgment delivered by a US court.
Oloyede was sentenced in August 2025 to 56 months imprisonment after pleading guilty to offences linked to the fraudulent diversion of about $4.2 million in COVID-19 relief funds provided by the US government.
According to Rasheed, the Osun State Government had directed the Ministry of Local Government Affairs to formally request the court documents from the United States before taking action.
He said Adeleke signed the deposition order on May 7, 2026, citing the need to uphold the integrity of the traditional institution and maintain public trust in the royal stool.
“The fraudulent conduct of Oba Joseph Oloyede, as established by the US court and admitted to by the monarch, has brought the institution of Obaship and the Apetumodu stool into disrepute,” the statement noted.
The government added that the throne of the Apetu of Ipetumodu has now been declared vacant, while arrangements would commence for the selection of a new monarch in line with due process.
Conviction in the United States
The monarch was convicted by the United States District Court for the Northern District of Ohio after pleading guilty to wire fraud, filing false tax returns, and engaging in monetary transactions involving criminal proceeds.
Presiding judge Christopher Boyko ordered Oloyede to serve 56 months in prison, followed by three years of supervised release. The court also directed him to pay restitution of $4,408,543.
US authorities further ordered the forfeiture of his residence in Medina, Ohio, as well as $96,006 earlier seized during investigations.
Oloyede was arrested in April 2024 alongside Nigerian pastor Edward Oluwasanmi over allegations of fraud linked to COVID-19 intervention loans.
Court filings showed the duo submitted false applications for Paycheck Protection Programme (PPP) loans and Economic Injury Disaster Loans (EIDLs) between April 2020 and February 2022 using fabricated tax and payroll records tied to businesses under their control.
According to US prosecutors, Oloyede owned five businesses and a nonprofit organisation, while Oluwasanmi controlled three other companies, all registered in Ohio.
Investigators said the fraudulent applications enabled the pair to obtain approximately $2.9 million in relief funds, including about $1.7 million linked to Oloyede’s entities and $1.2 million tied to Oluwasanmi’s businesses.
While Oloyede received a 56-month sentence, Oluwasanmi was earlier sentenced in July to 27 months imprisonment after entering a plea bargain with prosecutors.
