The Onipetu of Ipetumodu, Oba Joseph Oloyede, is currently battling to save his reputation and freedom in the United States after pleading guilty to multiple charges related to COVID-19 relief fraud.
Oba Oloyede, a trained accountant and information systems expert who ascended the throne in July 2019, was arrested alongside a Nigerian pastor, Edward Oluwasanmi, in early 2024. Both men face serious charges, including conspiracy to commit wire fraud, money laundering, and engaging in monetary transactions involving criminally obtained property, all tied to a $4.2 million COVID-19 relief fund scandal.
The duo were arraigned before Justice Christopher Boyko at the US District Court in Ohio, where they admitted to falsifying documents to fraudulently access Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) funds between April 2020 and February 2022. These funds, under the US Coronavirus Aid, Relief, and Economic Security (CARES) Act, were intended to help businesses survive the pandemic's economic impact.
Court documents reveal that Oba Oloyede used companies such as Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company to obtain large sums fraudulently. Similarly, Pastor Oluwasanmi used his companies — Dayspring Transportation Limited and Dayspring Holdings — to siphon millions of dollars, which were later used for personal expenditures, including property purchases.
After almost a year of court proceedings, both Oba Oloyede and Oluwasanmi entered guilty pleas in April 2025. Oluwasanmi’s sentencing has been set for July 2, 2025, while Oba Oloyede awaits his sentencing date following his own guilty plea.
Meanwhile, back home in Ipetumodu, confusion and anger have been brewing. The monarch, before his controversial trip to the United States, demolished the town's historic palace, promising to replace it with a more befitting structure upon his return. With his fate now uncertain and his reputation in tatters, many residents are demanding that the Osun State Government intervene and take necessary actions regarding his kingship.
Community leaders and concerned citizens have raised worries about the future of the traditional stool, questioning if Oba Oloyede would ever return to fulfill his promises or if the town would need to move forward without him.
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