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Osun traditional ruler Joseph Oloyede jailed in US for $4.2m COVID fraud
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Oba Joseph Oloyede, the Apetu of Ipetumodu in the Ife North Local Government Area of Osun State, Nigeria was on Tuesday sentenced to 56 months imprisonment in United States court for $4.2 million COVID funds-related fraud.
The 62 year old traditional ruler holds both US and Nigerian was sentenced by US District Judge Christopher A. Boyko after he pleaded guilty to the charges, according to a statement Attorney’s Office for the Northern District of Ohio said on Tuesday.
According to the statement, Oloyede pleaded guilty to one count of count of conspiracy to commit wire fraud, three counts engaging in monetary transactions in criminally derived property and two counts of making and subscribing a false tax return.
Aside the 56 months imprisonment, Oloyede would also serve three years of supervised release and pay $4,408,543.38 in restitution to his victims.
He is also to forfeit his home in the US, which, according to court documents, he acquired with proceeds of the scheme.
He will also forfeit $96,006.89 in fraud proceeds already seized by investigators.
Oloyede’s co-conspirator in the fraud, Edward Oluwasanmi was sentenced to 27 months in prison in July 2027.
“He was also ordered to serve three years of supervised release, pay a $15,000 fine, and pay more than $1.2 million in restitution. Oluwasanmi also forfeited much of the proceeds he received from the scheme, including a commercial property on Green Road in South Euclid that he acquired with fraud proceeds, and more than $600,000 he had transferred to financial accounts,” the court document indicated.
Read the full statement below
A dual American and Nigerian citizen has been sentenced to prison for creating and leading a scheme that bilked more than $4.2 million from federal loan and grant programmes that were intended to assist small businesses with economic hardship they suffered as a result of the COVID-19 pandemic.
Joseph Oloyede, 62, who holds both U.S. and Nigerian citizenship and resides in Medina, Ohio, was sentenced to 56 months (4 and ⅔ years) in prison by U.S. District Judge Christopher A. Boyko on Aug. 26, after he pleaded guilty in April to the following charges:
*One count of Conspiracy to Commit Wire Fraud
*Three counts of Engaging in Monetary Transactions in Criminally Derived Property
*Two counts of Making and Subscribing a False Tax Return
Oloyede was also ordered to serve three years of supervised release after imprisonment and pay $4,408,543.38 in restitution. He also forfeited his Medina home on Foote Road, which he had acquired with proceeds of the scheme, and an additional $96,006.89 in fraud proceeds investigators had seized.
Court documents show that from about April 2020 to February 2022, Oloyede and his co-conspirator, Edward Oluwasanmi, 62, of Willoughby, conspired to submit fraudulent applications for loans that were made available through the U.S. Small Business Association (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Among these were the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program, which aided small businesses that suffered financial hardship as a result of the pandemic with loans and grants.
During the investigation, agents found that Oloyede operated as a tax preparer and owned five businesses and one nonprofit. His co-defendant—and tax client—Oluwasanmi, owned an additional three business entities; all were incorporated in Ohio. Both defendants used their businesses to submit loan applications using false information. They obtained approximately $1.2 million in SBA funds for Oluwasanmi’s entities and $1.7 million for Oloyede’s entities.
In addition, Oloyede submitted fraudulent PPP and EIDL applications in the names of some of his clients and their businesses. In exchange, Oloyede would receive 15-20% of their loans as the fee, or kickback, for obtaining the loans for them, without reporting this income to the IRS on his own tax returns. Investigators learned that the defendant used funds obtained from these loans to acquire land and build a home and purchase a luxury vehicle. In total, Oloyede caused the SBA to approve 38 fraudulent applications, amounting to $4,213,378 in disbursed loans and advances.
According to information presented to Judge Boyko, Oloyede is a naturalized U.S. citizen who also holds a position as the monarch, or traditional ruler, of the Nigerian city of Ipetumodu.
In July 2024, Oluwasanmi was sentenced to 27 months in prison for his role in the conspiracy. He was also ordered to serve three years of supervised release, pay a $15,000 fine, and pay more than $1.2 million in restitution. Oluwasanmi also forfeited much of the proceeds he received from the scheme, including a commercial property on Green Road in South Euclid that he acquired with fraud proceeds, and more than $600,000 he had transferred to financial accounts.
This case was investigated by the U.S. Department of Transportation-Office of the Inspector General, as part of the Pandemic Response Accountability Committee Fraud Task Force; FBI Cleveland Division; and IRS-Criminal Investigations.
This case was prosecuted by Assistant United States Attorneys Edward D. Brydle and James L. Morford for the Northern District of Ohio.
News
Insurgency: FG set to engage fresh 28,000 soldiers, establishes new training depot
The Nigerian Army has unveiled plans to recruit and train an additional 28,000 soldiers as part of efforts to strengthen its manpower and intensify operations against insecurity across the country.
The Chief of Army Staff, Lt. Gen. Waidi Shaibu, disclosed this on Friday during a press briefing in Abuja ahead of the 2026 Nigerian Army Day Celebration (NADCEL).
Represented by the Chief of Policy and Plans (Army), Maj. Gen. Bamidele Alabi, the army chief said the recruitment expansion followed the establishment of a new training depot in Amasiri Edda, bringing the number of recruit training institutions in the Army to three.
“Manpower is as important as the equipment required to fight insecurity. To this end, we have expanded our recruitment scope by establishing another training depot at Amasiri Edda, making it the third institution to train able-bodied civilians for the Nigerian Army, thereby enhancing our manpower,” he said.
“With this action, the Nigerian Army is expected to recruit and train an additional 28,000 troops to help stem the tide of insecurity across the country.”
Shaibu also revealed that the Army had established additional brigades and units while reviewing its force structure to address deployment gaps and improve responses to emerging security threats.
“Accordingly, the Nigerian Army has established additional brigades and units to boost our operations while continuously reviewing our force structure to cover observed gaps in our deployments and address emerging security challenges across the country,” he said.
The COAS said the Army had continued to strengthen its operational capability through the acquisition of modern platforms, combat enablers and strategic partnerships.
He added that the service had also prioritised personnel welfare by institutionalising measures to recognise gallantry and undertaking extensive infrastructure development across formations nationwide.
Reflecting on his seven months in office, Shaibu said the Army had made significant progress in operational effectiveness, infrastructure, manpower development, professionalism and civil-military relations.
According to him, his command philosophy is focused on transforming the Nigerian Army into “a more professional, adaptable, combat-ready and resilient force capable of decisively discharging its constitutional responsibilities within a joint and multi-agency environment.”
He noted that the vision is driven by a “Soldier-First” culture that prioritises the welfare of personnel and their families as a key factor in achieving operational success.
“We are also improving our deployment strategies and employing modern technology as a force multiplier in our efforts to quickly degrade all forms of criminality across the country,” he added.
The Army chief maintained that troops remained actively engaged in operations nationwide, saying their efforts had significantly weakened Boko Haram/ISWAP terrorists, bandits, kidnappers, separatist groups and other criminal elements threatening national security.
He assured Nigerians that the Army would continue to carry out its constitutional responsibilities in line with the rules of engagement while respecting human rights.
Shaibu also announced that activities for the 2026 Nigerian Army Day Celebration had commenced under the theme, “Protecting the Nation and Serving the People: A Way Forward for the Nigerian Army.”
He urged Nigerians to continue supporting the military and other security agencies in tackling insecurity.
“I urge all Nigerians to continue to support the Nigerian Army.
“This Army belongs to you; it is your Army. Let us all demonstrate patriotism and commitment to the ideals of peace and unity for national development,” he said.
Highlighting activities lined up for the celebration, the Army chief said Juma’at prayers would be held across all Army formations and units on Friday, June 26, while interdenominational church services would take place on Sunday, June 28.
He added that public speaking engagements in secondary schools nationwide would be held on July 3 to educate students on the role of the Nigerian Army.
On July 4, Port Harcourt will host the NADCEL Lecture, the Chief of Army Staff Literary Competition award ceremony, an interaction with media executives and the Nigerian Army Officers’ Wives Association charity outreach.
The programme will continue on July 5 with a medical outreach offering free healthcare services to residents of selected communities in Port Harcourt and the commissioning of several Civil-Military Cooperation projects.
The week-long celebration will culminate on July 6 with a grand finale featuring a ceremonial parade, presentation of the Chief of Army Staff Commendation Awards, military equipment displays and a research and development exhibition.
Shaibu said the event would also coincide with the African Land Forces Forum 2026, themed “Securing Africa: Advanced Defense, United Efforts.”
According to him, the forum will bring together African army chiefs, senior military officers, policymakers, defence industry stakeholders and security experts to promote regional cooperation, strategic dialogue and the exchange of ideas on defence and security across the continent.
News
2027: Former President Obasanjo Visits Kwankwaso in Kano(Photos)
Ex-President Olusegun Obasanjo paid a courtesy visit to the Nigeria Democratic Congress (NDC) Vice-Presidential candidate, Senator Rabiu Musa Kwankwaso, at his residence in Kano, on Thursday.

Obasanjo was received by Kwankwaso and the NDC governorship candidate in the state, Comrade Aminu Abdulsalam Gwarzo.
Kwankwaso’s media aide, Saifullahi Hassan, confirmed the visit in a statement, describing it as an opportunity for “warm exchanges” between the leaders.
He, however, did not give further details on what the two politicians discussed during the meeting.
Kwankwaso served as Minister of Defence during Obasanjo’s second tenure between 2003 and 2007, and has since then maintained a good relationship with him.

NDC Presidential Candidate, Peter Obi, is also a loyalist of the former President.

Obasanjo backed Obi in the 2023 elections and there are reports that he mid-wifed the Obi-Kwankwaso alliance for the 2027 elections.
News
Insecurity: Bandits set ablaze Niger school after collecting N10m levy
Bandits have reportedly set ablaze a primary school in Dekara town, Borgu Local Government Area of Niger State, despite allegedly collecting a N10 million levy from communities in the area.
Residents revealed that the attackers burnt down Central Primary School, Dekara, during an attack on the town on Wednesday.
A resident, who spoke on condition of anonymity, said the bandits emerged from the Kainji Lake National Park and invaded the community.
According to him, villages and communities in Dekara District recently raised and paid N10 million demanded by the bandits after they threatened to attack them if the levy was not paid.
He said the payment was made following assurances from the bandits that residents would be allowed to remain in their communities without further attacks.
“The bandits imposed a N10 million levy on communities in the district. The money was paid because they threatened to attack us if we failed to comply.
“But despite receiving the money, they still attacked the district headquarters and burnt down the primary school,” the resident said.
In a related development, bandits reportedly launched fresh attacks on Dnakau, Lanta and Unguwan Kawo communities in Shiroro Local Government Area.
Residents said one person was killed while another was kidnapped during the attacks.
The victims were identified as Moses Joseph of Unguwan Kawo, who was abducted, and Emma from Bagna community, who was shot during the raid.
Efforts to get the reaction of the Niger State Police Command were unsuccessful.
The command’s spokesperson, SP Wasiu Abiodun, neither answered phone calls nor responded to a text message sent to him as of the time of filing this report.
Daily Trust
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