By Erewunmi Peace

Leaders of the Ipetumodu community in Osun State have finally reacted to the recent conviction of their traditional ruler, Oba Joseph Olugbenga Oloyede, who was sentenced to 56 months (4 years and 8 months) in a U.S. prison for a multi-million-dollar COVID-19 relief fraud scheme.

The monarch, a dual U.S.-Nigerian citizen, pleaded guilty to charges of wire fraud and tax evasion in connection with fraudulent applications for the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) under the CARES Act during the COVID-19 pandemic. According to U.S. court documents, the scheme defrauded the U.S. government of over $4.2 million, with 38 fraudulent applications approved.

Court Orders Restitution and Forfeiture

U.S. District Judge Christopher A. Boyko also ordered the monarch to pay $4,408,543.38 in restitution, forfeit his home in Medina, Ohio—purchased with proceeds from the fraud—and surrender assets worth $96,006.89.

Community Reaction

In a statement, the Ipetumodu Descendants Progressive Union (IDPU) urged residents to remain calm and law-abiding, emphasizing that the situation should not disrupt peace in the town.

“We acknowledge the development and urge everyone to maintain peace. The community’s heritage and progress remain our priority,” the IDPU stated.

Osun Government Responds

The Osun State Government disclosed it is making arrangements to obtain a Certified True Copy (CTC) of the U.S. court judgment before deciding on the fate of the Apetu stool.

“We cannot act on social media reports. Once we have the official judgment, the state will take appropriate steps,” a government official told journalists.

The fraudulent scheme took place between April 2020 and February 2022, during the height of the pandemic when relief funds were meant to support struggling businesses.

This conviction has sparked nationwide debate about integrity in leadership, with many calling for reforms to traditional institutions.