Police Bust $4M Oil Fraud Syndicate, Arrest Key Suspects
Operatives of the Nigeria Police Force have dismantled an organized crime syndicate accused of defrauding international oil trading firms of over $4 million.
The group, allegedly led by Marine Gold Oil Refineries Limited, Eagle Capital Management, and Richrice International Corporation, was said to have operated across Nigeria, China, and the United States, targeting the global oil and gas sector with sophisticated fraud schemes.
Force Spokesman Muyiwa Adejobi, while addressing journalists in Abuja on Thursday, revealed that the suspects were apprehended during operations conducted between January 4 and January 31, 2025.
Among those arrested was David Udensik, also known as Dr. Jacob Bello, accused of forging Nigerian National Petroleum Company Limited (NNPCL) documents and scamming oil traders out of $610,000. Adejobi stated, “Detectives apprehended Udensik, a Nigerian national from Akwa Ibom State, who was responsible for generating fraudulent intelligence reports and misusing NNPCL documents to defraud international oil firms.”
Following extensive investigations, police also arrested Engr. Isaac Jerome Oyakhilome, Managing Director of Marine Gold Oil Refineries Limited and a director at Richrice International Corporation. Adejobi explained that Oyakhilome allegedly facilitated a multimillion-dollar fraud scheme worth $1,151,495 by signing fraudulent crude oil sales agreements with NNPCL.
Recovered exhibits included ₦55 million (approximately $33,428), assets valued at ₦370 million, multiple electronic devices, and a Toyota Camry vehicle. The suspects reportedly confessed to their roles in the fraudulent activities.
Cybercrime Arrests
Cybercrime operatives also apprehended Solomon Chidiebere Akunyalam, a 24-year-old accused of orchestrating a cryptocurrency scam that cost a victim $86,000. In April 2024, Akunyalam allegedly used a phishing link disguised as a subscription activation request to gain access to the victim’s wallet and drain the funds.
Further investigations led police to raid a cybercrime hideout in Ipent 2 Estate, Lokogoma, Abuja, on January 31, 2025. Two suspects, Irhene Efe Wealth (25) and Irhene Godstime (21), were arrested for allegedly stealing and selling foreign nationals’ Facebook accounts to cybercriminals.
Social Media Allegations
In Lagos, police arrested Idowu Emmanuel, known on Instagram as @lilsmart, for falsely accusing musician Naira Marley (Abdulazeez Adeshina Fashola) of abduction, assault, and fraud. Adejobi stated that Emmanuel admitted in writing that the allegations were baseless and had no supporting evidence.
The suspect was arrested on January 28, 2025, at his residence in Megamound Estate, Ajah, Lagos, and evidence related to the false accusations was recovered.
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