The Nigeria Police Force has secured the conviction of one David Udensik, also known as Dr. Jacob Bello, for his involvement in a $1 million oil-related fraud scheme targeting a U.S.-based energy firm.
Force spokesperson Benjamin Hundeyin said in a Tuesday statement that the conviction followed a petition from the victim company, which alleged that Udensik obtained funds under the guise of facilitating legitimate crude oil deals in Nigeria.
Investigations by the Police National Cybercrime Centre revealed that the suspect ran a criminal network between 2018 and 2023, using forged documents purportedly from the Nigerian National Petroleum Company Limited and other agencies to deceive investors.
“Forensic analyses confirmed that the documents, seals, and authentication materials presented by the suspect were entirely counterfeit. Funds traced through the scheme were diverted into accounts linked to the suspect and his accomplices,” Hundeyin stated.
The Federal High Court in Abuja, on October 22, 2025, convicted Udensik on charges of forgery, obtaining by false pretence, and money laundering. The court also ordered the forfeiture of assets worth hundreds of millions of naira to facilitate restitution to the victim company.
Inspector-General of Police Kayode Egbetokun commended the investigators for their professionalism, reaffirming the Force’s commitment to safeguarding Nigeria’s corporate reputation and bringing cyber-enabled financial criminals to justice.
