$4.2 million fraud:Tension in Osun town as Royal Crown, regalia vanish after Oba’s imprisonment in US

Abiola Olawale
Writer

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A wave of unease is reportedly sweeping through Ipetumodu, the headquarters of Ife North Local Government Area in Osun State, following an alleged mysterious disappearance of sacred royal regalia, including the revered royal crown and ancient royal beads, which are powerful symbols of the town’s heritage.

The incident comes weeks after Oba Joseph Oloyede, the Apetu of Ipetumodu, was sentenced to 56 months in a US prison for his alleged role in a $4.2 million COVID-19 relief fraud scheme.

The New Diplomat reports that the missing artefacts, central to the enthronement of a new monarch, have sparked fears of a cultural and spiritual crisis in the community.

A source who spoke with the press alleged that aides and close associates of the embattled monarch allegedly removed the items from his private residence, which has served as a temporary palace since the original royal court was demolished.

The source expressed deep concern about the implications for the town’s future, saying: “The crown is gone, and those behind its disappearance may not understand the consequences. Without the crown and beads, the enthronement of a new monarch could plunge into crisis.

“More importantly, they risk provoking the wrath of the deities that guard this community,” he warned, urging those responsible to return the items before “it becomes too late.”

The development comes on the heels of Oba Oloyede’s conviction in the United States. The monarch, who holds dual Nigerian and American citizenship, was arrested in May 2025 alongside Pastor Edward Oluwasanmi.

Recall also that following the conviction of the monarch, reports emerged that the kingmakers of Ipetumodu have begun navigating tradition and legal formalities with a succession battle already in the works between the town’s ruling houses.

The New Diplomat checks show that the traditional kingmakers have begun the process of embarking on stricter protocols to avoid past mistakes.

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