Molada is an historical figure of Ijebu; the Awujale’s son who committed adultery with his father’s wife and was consequently banished from the town. Although the Awujale ruled him to be executed, the council members of the King’s court prevailed on him to order a less severe punishment. Molada was ruled not to settle near any village or town.
The village Molada founded, upon his exile, was named Ilu Odale, in obedience to his father’s instruction. This place is now nown as Iloda at Odogbolu. Molada came to settle at Odogbolu during the time of the great Egba war when all villages left their positions to stay together in a single town.