The National Orientation Agency, (NOA), had written to the troubled monarch in January, saying his actions are illegal and could land him in jail.
And on Friday, the Egba traditional council announced the suspension of the monarch for publicly degrading Nigerian currency, an offence which contravene the law of the Central Bank of Nigeria (CBN).
The council suspended the monarch for two months without salary.
The meeting in a joint resolution adopted the suspension of the monarch following the recommendation of its Ethical Committee which declared that during the period of his (Sowemimo) suspension he should not parade himself as a traditional ruler.
The resolution emphasized that Oba Sowemimo should not be invited or seen at any government or public function as a traditional ruler, and for period of three months should not receive any payments
The Chairman of a three-member Ethical Committee of the Egba Traditional Council, Oba Saka Matemilola, who read the report of the committee said that the committee came to its decision after examining the viral video in which Oba Sowemimo breached the ethics of a Yoruba traditional institution by defacing Nigeria’s currency.
The committee chairman who is the Olowu of Owu said findings revealed that the embattled traditional ruler was seen holding strewn Naira as a bead and hung onto the neck of a musician in public.
The chairman added the monarch’s action has brought the traditional institution into disrepute with the public condemnation that greeted his action lm
He noted that the said the Oba’s action is in contradiction of Section 21(1) of Central Bank Act, 2007.
Confirming his suspension, Oba Sowemimo said “the suspension was announced during our meeting yesterday (Friday), they said the suspension was due to the way I spent money on one musician.
“And when I was asked if I had anything to say, I stood up and apologized for whatever I have done wrong and the suspension which was earlier announced to be for three months without salaries was reduced to two months. I totally accept the verdict of the council because it is the person that we love that we chastise, so I am good with the decision”.
