The Federal High Court in Abuja has convicted David Udensik, also known as Dr. Jacob Bello, for orchestrating a sophisticated transnational oil scam valued at over $1 million.
According to a statement issued on Tuesday by CSP Benjamin Hundeyin, spokesperson of the Nigeria Police Force, the conviction followed an extensive investigation by the National Cybercrime Centre (NPF–NCCC) after a petition was filed by a U.S.-based energy company alleging fraud disguised as legitimate crude oil transactions.
Investigators found that between 2018 and 2023, Udensik operated a wide-reaching criminal network that forged documents purportedly issued by the Nigerian National Petroleum Company Limited (NNPCL) and other regulatory bodies to lure foreign investors into fake oil deals.
Forensic analysis by the NPF–NCCC confirmed that the documents, seals, and authentication materials used were completely falsified. Funds traced from the scam were funneled into bank accounts operated by Udensik and several associates.
On October 22, 2025, the Federal High Court found Udensik guilty of forgery, obtaining money by false pretence, and money laundering.
The court also ordered the forfeiture of assets worth hundreds of millions of naira, including real estate and other properties linked to the convict, to facilitate restitution to the defrauded U.S. company.