The Iodine Value (IV) is a useful index of detecting adulteration of palm oil with any other vegetable or animal fat. The iodine value obtained also tallies with that of Ekwenye, [9] who reported that the greater the degree of unsaturated fats (High iodine value), the more readily the oil or fat becomes rancid. It also agrees with the findings of Nwanekezi and Onyeagba [15] who reported that the higher the iodine value, the greater the degree of unsaturated fats that exist in the oils. Orji and Mbata [18] also reported iodine values that are comparable with those of this study. The high iodine value obtained in this study may as well explain the rancidity noticed in the oil samples surveyed.