Tension is gradually building up as princes in Ipetumodu, Osun State, are set to hold a meeting on Tuesday to discuss the travails of the convicted Apetumodu, Oba Joseph Oloyede.
The US Attorney’s Office for the Northern District of Ohio, in a statement on August 26, 2025, said Oba Oloyede had been sentenced to more than four years in prison for fraud.
US District Judge, Christopher A. Boyko also ordered the monarch to “serve three years of supervised release after imprisonment and pay $4,408,543.38 in restitution.”
According to the Attorney’s Office, Oloyede led a conspiracy to exploit COVID-19 emergency loan programmes created for struggling businesses.
Since the judgement, uneasy calm has pervaded the town, with the princes insisting that the state government should take a decision on replacing Oba Oloyede.
However, the State Commissioner for Local Government and Chieftaincy Affairs, Dosu Babatunde, told Sunday PUNCH that a Certified True Copy of the judgment would be obtained before any decision could be made.
It was learnt on Saturday that princes from the two ruling houses in Ipetumodu — Akinbile, which produced Oba Oloyede, and Fagbemokun — were already harmonising their positions regarding the stool.
Findings by Sunday PUNCH revealed that three groups have emerged among the princes ahead of the meeting.
While some princes from Akinbile insist the stool should remain in their fold since Oba Oloyede did not reign for long, others are pushing for the installation of another Apetumodu from among those who contested against the convicted monarch.
Princes from Fagbemokun, on the other hand, insist the next Apetumodu must emerge from their side since Akinbile produced the embattled monarch.
A prince from the Akinbile Ruling House, who spoke on condition of anonymity, said, “There is apprehension already. There is suspicion, and many people are displeased that there is no concrete position regarding the next step after Oba Oloyede’s conviction in the U.S. There are many camps among the princes already. We can only hope the Tuesday meeting won’t be disrupted.”
Sunday PUNCH gathered that the meeting, slated for the Apetumodu palace, would be presided over by the Asalu of Ipetumodu, Chief Sunday Adedeji.
The Secretary of the Fagbemokun Ruling House, Prince Sunday Taiwo, confirmed to our correspondent on Saturday that the family met earlier in the day to deliberate on maintaining peace in Ipetumodu and within the Fagbemokun royal family.
“Every second Tuesday of the month, we have a meeting of princes in Ipetumodu. The next one holds next Tuesday,” Taiwo said, declining further comment on the agenda.
Providing more insight, Prince Olaboye Ayoola of Akinbile Ruling House said the matter of Oba Oloyede would likely dominate discussions.
“There will be a meeting of princes on Tuesday at 4:00 p.m., and it will focus on the issue of Oba Oloyede. The meeting, which is a regular monthly gathering, will be chaired by Chief Asalu.
“It will centre on Oba Oloyede and the next line of action. It is unlikely that we, the Akinbile family, will meet before then. Our own meeting will come up after Tuesday’s gathering,” he added.
