The monarch is the traditional ruler of Oguntade Village, Oba Lateefu Olarinde, and his son, Prince Yusuf Olarinde.
They were arrested on Thursday in Ile-Epo, several months after leaving Nigeria to Benin Republic as a result of a manhunt by the police.
The monarch and his Prince were declared wanted by the Lagos State Commissioner of Police, Hakeem Odumosu.
The hunt for both father and son followed series of petitions from residents, warehouse owners and truck drivers.
In the petitions, the suspects were accused of using armed thugs to extort people.
There had been earlier reports of these thugs, who were alleged to have a penchant for killing, maiming and looting along the Mile 2, Abule-Ado, Ojo Road, Abule-Osun, Festac, Vin-Niger and Abule-Osun axis.
The activities of the thugs caught the attention of Odumosu after they attacked truck drivers, killing two and injuring many others.
When policemen went to the scene, they were also attacked with bottles and stones.
Furious, Odumosu had vowed to fish out those behind the constant mayhem in the aforementioned communities.
To achieve this, he deployed undercover detectives to Oguntade village and soon got reports that the monarch and son were behind the conflicts.
Although the police chief ordered for their arrest, it was learnt that both father and son had fled to Benin Republic.
The wanted suspects would later sneak into Nigeria some weeks back.
But rather than lie low, they allegedly caused another violence at Abule-Oshun, where three persons, including a young man, were injured.
The hoodlums who took part in that attack were arrested, while undercover operatives arrested the monarch and Prince.
The suspects are being interrogated at the Special Anti-Robbery Squad.
The Police have asked victims of the attacks to come forward to tell their encounters with the thugs.