- Police Secure Conviction of Nigerian Fraudster Over $1 Million Oil Scam
- Egbetokun commended the investigators and prosecutors for their professionalism
- Financial tracking showed that the funds were diverted into multiple bank accounts
The Nigeria Police Force has secured the conviction of David Udensik, also known as Dr Jacob Bello, for his role in a sophisticated one million dollar international oil fraud scheme that targeted a United States-based energy company.
Eko Hot Blog reports that the conviction was delivered by the Federal High Court in Abuja on October 22, 2025, following detailed investigations by operatives of the Nigeria Police Force National Cybercrime Centre (NPF NCCC).
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According to a statement by the Force Public Relations Officer, CSP Olumuyiwa Adejobi, the case originated from a petition by the U.S. firm, which alleged that the suspect fraudulently obtained funds under the guise of facilitating legitimate crude oil transactions in Nigeria.
Investigations revealed that between 2018 and 2023, Udensik coordinated a well-organised criminal network that forged documents purportedly from the Nigerian National Petroleum Company Limited (NNPCL) and other regulatory agencies to defraud the foreign company.
A forensic analysis conducted by the police confirmed that the seals, certificates, and authentication documents used by the suspect were counterfeit. Financial tracking also showed that the funds were diverted into multiple bank accounts controlled by Udensik and his accomplices.
Upon conviction, the court ordered the forfeiture of assets worth several hundreds of millions of naira, including real estate and other properties linked to the proceeds of the crime, to aid restitution to the victim company.
Reacting to the judgment, the Inspector General of Police, Kayode Adeolu Egbetokun, PhD, NPM, commended the investigators and prosecutors for their professionalism and commitment to justice.
“This conviction is a testament to the Nigeria Police Force’s renewed resolve to safeguard Nigeria’s integrity in global commerce and to ensure that no criminal, regardless of influence or location, evades justice,” the IGP stated.
Egbetokun reaffirmed the Force’s commitment to protecting Nigeria’s corporate image and ensuring that cyber-enabled financial crimes are prosecuted to conclusion. He also assured continued collaboration with international partners to dismantle transnational criminal syndicates exploiting the country’s energy sector.
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