In September 2023, Governor Seyi Makinde of Oyo state approved Olaoye as the 21st Soun of Ogbomosoland in September 2023 following his selection by the kingmakers in the ancient town.
He was subsequently installed by the kingmakers in Ogbomoso land as the new Soun of Ogbomoso at Abata.
Legit.ng recalls that the stool became vacant after Oba Jimoh Oyewumi, Ajagungbade III, joined his ancestors.