$1 Million Oil Scam Exposed! Abuja Court Jails Notorious Fraudster

The Federal High Court in Abuja has convicted one David Udensik, also known as Dr. Jacob Bello, for his role in an international oil fraud scheme valued at over $1 million.

The development was disclosed in a statement released on Tuesday by the Nigeria Police Force Public Relations Officer, ACP Benjamin Hundeyin.

According to the statement, the conviction followed a petition filed by a United States–based energy company, which accused Udensik of defrauding it under the pretense of facilitating legitimate crude oil transactions in Nigeria.

Investigations by operatives of the Nigeria Police Force – National Cybercrime Centre (NPF–NCCC) revealed that the convict operated a coordinated criminal network between 2018 and 2023, during which he forged official documents purportedly issued by the Nigerian National Petroleum Company Limited (NNPCL) and other regulatory agencies to deceive the victim company.

“Forensic analysis confirmed that the documents, seals, and authentication materials used in the transactions were fake. Funds traced from the deal were diverted into accounts linked to the suspect and his accomplices,” the statement read.

Delivering judgment on October 22, 2025, the court found Udensik guilty of forgery, obtaining by false pretence, and money laundering.

The court also 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 defrauded company.

ACP Hundeyin added that the Inspector-General of Police, IGP Kayode Egbetokun, commended the investigating officers for their diligence and professionalism, reaffirming the Force’s commitment to tackling cyber-enabled financial crimes.

“The Nigeria Police Force remains committed to protecting the nation’s corporate integrity and ensuring that cybercriminals, regardless of their status or location, are brought to justice,” Hundeyin stated.

The conviction marks another milestone in the Police Force’s sustained crackdown on transnational oil scams and cyber-financial crimes, which have defrauded several foreign firms over the years through forged oil sale documents and impersonation of government officials.