A Federal High Court in Abuja has convicted a Nigerian man, David Udensik, also known as Dr. Jacob Bello, for his role in a $1 million international oil fraud.
According to a statement from the Nigeria Police Force on Tuesday, Udensik was found guilty of defrauding a United States–based energy company by pretending to facilitate a crude oil deal in Nigeria.
The Force Public Relations Officer, Benjamin Hundeyin, said the case began after the foreign company petitioned the police, alleging that Udensik tricked them into paying large sums for a fake oil transaction.
Investigations by the National Cybercrime Centre showed that Udensik ran a criminal network between 2018 and 2023, forging documents that appeared to come from the Nigerian National Petroleum Company Limited and other agencies to deceive the company.
“Forensic analysis confirmed that the documents, seals, and authentication materials used in the transactions were fake,” the statement read.
The police also traced part of the stolen money to several bank accounts linked to Udensik and his accomplices.
Delivering judgment on October 22, 2025, the court found him guilty of forgery, obtaining by false pretence, and money laundering.
The court also ordered the forfeiture of his assets worth hundreds of millions of naira, including real estate and other properties, to help recover funds for the victim company.
Hundeyin said the Inspector-General of Police, Kayode Egbetokun, praised the officers who handled the case, adding that the Force remains committed to protecting Nigeria’s image and cracking down on cyber-enabled financial crimes.
The conviction is part of the police’s wider effort to curb international fraud and oil scams that have targeted foreign investors in Nigeria for years.
