Five men armed with A-K47 riffles on Monday invaded the palace of Olubadan at Popoyemoja where the monarch was installing newly chiefs.
The gunmen, who arrived at the scene in a space bus, fired gunshots, but no casualty was recorded in the incident.
One of the gunmen was said to have released volleys of gunshots into the air through the open roof of the vehicle, while others reportedly shot through windows of the vehicle.
An eyewitness said the gunmen were dressed in black clothes with red headband.
Men of the state joint security task force `Operations Burst’ arrived the palace within five minutes of the incidence to restore normalcy.
The incident occurred at the time the monarch was about to commence the installation of four new Baales (village heads) in his palace.
Meanwhile, Governor Abiola Ajimobi of Oyo State has condemned the act of brigandage at the palace of the Olubadan of Ibadanland, Oba Saliu Adetunji.
In a statement signed by his Special Adviser on Communications and Strategy, Mr Yomi Layinka, the governor directed security agencies to ensure that the masterminds are swiftly arrested, interrogated and brought to justice.
He vowed not to brook anyone or group of people desirous of bringing back the regime of violence and brigandage to the state.
Ajimobi reiterated his commitment to the security and protection of lives and properties of all citizens of Oyo State, which he said that
his administration laboured hard to restore and maintain in the last six years.