The Nigeria Police Force (NPF) has secured the conviction of David Udensik, also known as Dr. Jacob Bello, for masterminding a transnational oil-related fraud scheme valued at over one million United States dollars ($1,000,000).
The conviction followed a petition by a United States–based energy company, which alleged that the suspect defrauded it under the guise of facilitating legitimate crude oil transactions in Nigeria.
In a statement, the Force Public Relations Officer, DSP Benjamin Hundeyin, revealed that operatives of the Nigeria Police Force–National Cybercrime Centre (NPF-NCCC) launched an investigation that uncovered a well-coordinated criminal network operated by Udensik between 2018 and 2023.
According to the police, the convict forged documents purportedly emanating from the Nigerian National Petroleum Company Limited (NNPCL) and other regulatory agencies to deceive the victim company. Forensic analysis later confirmed that the documents, seals, and authentication materials used in the scam were counterfeit.
Investigators also traced funds from the fraudulent deal to multiple accounts linked to Udensik and his accomplices.
Following a diligent prosecution, the Federal High Court in Abuja, on October 22, 2025, found Udensik guilty of Forgery, Obtaining by False Pretence, and Money Laundering.
The court further ordered the forfeiture of assets worth several hundreds of millions of naira, including real estate and other properties, believed to be proceeds of the crime, to aid restitution to the defrauded company.
Meanwhile, the Inspector-General of Police, Kayode Adeolu Egbetokun, commended the officers involved in the investigation and prosecution for their professionalism and commitment.
Egbetokun reaffirmed the Force’s determination to safeguard Nigeria’s corporate reputation and ensure that cyber-enabled financial criminals, regardless of their status or location, face the full weight of the law.
