The Apetu of Ipetumodu, Oba Joseph Olugbenga Oloyede who has not been seen in the community since March 2024, is reportedly facing allegations of involvement in a multi-million dollar fraud case in the United States.
The situation has sparked unease within the town, prompting residents to call on Osun State Governor, Ademola Adeleke, to intervene and provide clarity on the monarch’s whereabouts.
Oba Oloyede, a US-based accountant, was installed as the Apetu in July 2019.
Since assuming the throne, he had maintained a pattern of frequent travel between Nigeria and the United States.
However, his latest absence, nearing a year, has left the community anxious and uncertain.
According to documents obtained from the US Department of Justice, a man named “Joseph Oloyede,” aged 61, was charged alongside an associate, Edward Oluwasanmi, for allegedly defrauding the US government of $4.2 million in COVID-19 relief funds.
Investigations have suggested that the accused individual is the same person as the monarch of Ipetumodu.
Court filings indicate that the fraud involved filing false applications for business relief loans during the COVID-19 pandemic.
The accused are said to have channelled the funds into personal and business accounts.
Further checks revealed that Oba Oloyede’s LinkedIn profile lists him as the CEO of “Available Tax Services,” the same company linked to the fraud case in the US. Additionally, the age and residence details of the accused match the monarch’s personal information
The king’s absence has disrupted traditional and cultural activities in the town. He was notably absent during the 2024 masquerade festival and other key annual events. In his place, his wife has made public appearances on his behalf—a practice considered culturally inappropriate by some elders.
Adding to the residents’ frustrations is the incomplete reconstruction of the town’s palace. Oba Oloyede had ordered the demolition of the old palace, promising a modern structure. However, the site has remained abandoned, further fuelling discontent.
In a rare public message delivered via video projection during a New Year prayer event, the monarch addressed his subjects.
He dismissed the allegations against him as false, blaming “enemies of progress” seeking to tarnish his image.
However, his refusal to disclose his exact location, coupled with his failure to provide a specific return date, has left residents unsatisfied.
When contacted by journalists, Oba Oloyede maintained his innocence but declined to confirm or deny his involvement in the US fraud case.
Some residents, including prominent community leaders, are urging Governor Adeleke and the state authorities to investigate the monarch’s status.
They argue that the uncertainty surrounding his situation could destabilize the town’s traditional leadership structure.
“We need clarity,” said a concerned elder.
“Our king is the custodian of our culture. His prolonged absence and these damaging allegations put the dignity of our community at risk.”
