Oyo State Education Trust Fund (OYO ETF) was established through an act of the Oyo State House of Assembly that was signed into law on the 30th of June 2016.

In line with the provision of the law, the pioneer Chairman of the Fund, Chief Dr Mrs Onikepo Akande CON was appointed with effect from 1st January 2017 while the Board of Trustees was inaugurated on Monday 17th July, 2017. The appointment of the first Executive Secretary Mrs. Okunade J. Adenike took effect from 1st April, 2017. She retired after Thirty-Five years of service and another Executive Secretary Mrs. Yetunde  Fatoki was appointed with effect from 2nd February 2018