Oba Oloyede: Facts About Nigerian Monarch Sentenced to 4 Years in Prison Over $4.2m COVID-19 Fraud
- A Nigerian monarch, Oba Joseph Oloyede, has been sentenced to four years in prison for his role in a $4.2 million COVID-19 relief fund fraud
- In the wake of the conviction, Prince Gbenga Joseph Oloyeda has been approved as the new Apetumode of Ipetumode by Governor Gboyega Oyetola of Osun State
- The newly appointed traditional ruler brings a wealth of academic and professional experience from Nigeria and the United States
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The recent conviction of Oba Joseph Oloyede over a multi-million dollar COVID-19 fraud case has stirred public interest across Nigeria and beyond.
As the former Apetumode of Ipetumode, his sentencing has paved the way for a new chapter in the town’s leadership.
Here are key facts about the case and the newly appointed monarch, Prince Gbenga Joseph Oloyeda.
Source: Twitter
1. Oba Joseph Oloyede Was Sentenced for $4.2 Million COVID-19 Fraud
Oba Joseph Oloyede, a traditional ruler in Osun State, was sentenced to four years in prison following his involvement in a $4.2 million COVID-19 relief fund fraud.
The case drew attention due to the scale of the financial misconduct and the monarch’s status. Authorities reportedly uncovered a complex scheme involving misappropriation of pandemic-related funds, leading to his conviction.
2. Prince Gbenga Joseph Oloyeda Approved as New Apetumode of Ipetumode
Following the conviction, Prince Gbenga Joseph Oloyeda was officially approved as the new Apetumode of Ipetumode in Ife North Local Government Area. The appointment was sanctioned by the governor in council, led by Governor Gboyega Oyetola of Osun State. The announcement marked a significant transition for the community, ushering in a new era of leadership.
3. Prince Oloyeda’s Educational Background Spans Nigeria and the United States
Prince Gbenga Joseph Oloyeda’s academic journey began at Christ Church 11, Ipetumode, and continued at C/S Modern Commercial Secondary School. He later earned his Ordinary National Diploma (OND) from The Polytechnic Ibadan. His pursuit of higher education led him to Enugu State University of Science and Technology, where he obtained a Master of Business Administration.
He furthered his studies in the United States, attending the University of Sarasota and Argosy University in Sarasota, Florida. There, he earned another MBA and a Doctor of Business Administration, specialising in Accounting and Information Systems.
4. He Holds Membership in Prestigious Professional Bodies
Prince Oloyeda is recognised for his professional affiliations, which include membership in the Institute of Chartered Accountants of Nigeria. Internationally, he is associated with the American Accounting Association, the Institute of Management Accountants, and the Association of Certified Fraud Examiners. These credentials underscore his expertise in financial systems and fraud prevention.
5. His Career Includes Banking and Academic Roles in Nigeria and the US
Prince Oloyeda’s professional experience spans both the financial and academic sectors. In Nigeria, he worked with John Holt Financial Merchant Bank and First Bank of Nigeria (Merchant Bank). His career in the United States included roles at KeyCorp and KeyBank National Association in Cleveland, Ohio.
In academia, he served as a lecturer at Indiana Wesleyan University in Marion, Indiana; University of Phoenix in Arizona; and Northcentral University in San Diego, California. His diverse background positions him as a well-rounded leader with global exposure.
6. The Town of Ipetumode Begins a New Chapter
With Prince Gbenga Joseph Oloyeda now installed as the Apetumode, Ipetumode looks ahead to a new phase of traditional governance. His blend of local roots and international experience is expected to bring fresh perspectives to the role, following the controversy surrounding his predecessor.
Source: Twitter
3 Nigerians jailed by US court over N2 billion fraud
Legit.ng earlier reported that a United States district court in Michigan sentenced three Nigerians to prison over their involvement in a $2 million wire fraud scheme targeting elderly individuals.
The defendants, Fatai Okunola, Oluwaseyi Adeola, and Ijeoma Adeola, were arraigned on a three-count charge of conspiracy to commit mail and wire fraud, unlawful procurement of naturalisation, and making false statements relating to naturalisation.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
