The Osun State Government said the decision was taken after receiving the Certified True Copy of the judgment delivered by a United States court in Ohio, which convicted the monarch on charges bordering on tax fraud and money laundering.
The development was disclosed in a statement issued on Monday in Osogbo by the spokesperson to the governor, Olawale Rasheed.
According to the statement, the Osun State Executive Council had, last year, directed the Ministry of Local Government to formally obtain the certified court judgment from the Ohio court before any official action would be taken against the monarch.
The government explained that the decision was necessary to ensure that its actions were based on verified legal documents rather than media reports or social media publications.
According to the statement, the conviction subjected the royal institution to public embarrassment and undermined the integrity associated with the throne.
Oba Oloyede was sentenced on August 26, 2025, by the United States District Court for the Northern District of Ohio to 56 months imprisonment after being convicted of wire fraud, filing false tax returns and engaging in monetary transactions involving criminally derived property.
Following the deposition, the Osun State Government declared the stool of the Apetumodu of Ipetumodu vacant and announced that the process for selecting a new traditional ruler would commence in line with established procedures.