The Federal High Court in Abuja has convicted a man identified as David Udensik, popularly known as Dr. Jacob Bello, for his role in a transnational oil fraud scheme valued at over $1 million.
This was disclosed in a statement released on Tuesday by the Force Public Relations Officer, ACP Benjamin Hundeyin.
According to the police, the conviction followed a petition filed by a United States–based energy company, which accused Udensik of defrauding it under the guise of facilitating crude oil transactions in Nigeria.
Hundeyin stated, “Nigeria Police Force has secured the conviction of one Mr. David Udensik, also known as Dr. Jacob Bello, for his role in a transnational oil-related fraud scheme amounting to over One Million United States Dollars (USD $1,000,000). The conviction followed a petition by a United States–based energy company, alleging that the suspect obtained funds from the firm under the pretext of facilitating legitimate crude oil transactions in Nigeria.”
Following the petition, operatives of the Nigeria Police Force – National Cybercrime Centre (NPF-NCCC) launched an investigation that uncovered a sophisticated criminal network operated by Udensik between 2018 and 2023.
The police said the investigation revealed that the convict forged documents purportedly issued by the Nigerian National Petroleum Company Limited (NNPCL) and other regulatory agencies to deceive his victims.
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“The investigation revealed that the suspect, between 2018 and 2023, operated a coordinated criminal network that forged documents purportedly emanating from the Nigerian National Petroleum Company Limited and other regulatory platforms to deceive the victim company,” the statement added.
Forensic analysis later confirmed that the documents, seals, and authentication materials used in the fraudulent transactions were fake. The funds traced to the operation were allegedly diverted into accounts belonging to Udensik and his accomplices.
Hundeyin explained that the court, in its judgment delivered on October 22, 2025, found the defendant guilty of multiple offences, including forgery, obtaining by false pretence, and money laundering.
“The court further ordered the forfeiture of assets valued at several hundreds of millions of Naira, including real estate and other properties derived from the proceeds of the crime, to facilitate restitution to the victim company,” the statement continued.
The Inspector-General of Police, Kayode Egbetokun, was said to have applauded the officers involved in the investigation and prosecution for their professionalism and dedication.
“He affirms the commitment of the Force to protecting Nigeria’s corporate integrity and ensuring that cyber-enabled financial criminals, irrespective of status or location, are brought to justice,” Hundeyin added.