John Elem accused of attempting to print counterfeit Naira notes worth N20bn


John Elem was found with item and evidences that linked him to plan to print counterfeit money.   He was caught with 92 pieces of Golden colour holograms in his closet, he was also caught with a book titled ‘ Optical Document on Security’, a book that details how to print currencies, along with information on the manual numbering machine.  

Justice Saidu adjourned the case until Tuesday January 8th, 2019 for further proceedings. 

“Based on the petition, I went to my director and immediately a team was constituted to identify and arrest him (Edem). The following day, around 2pm, we were able to apprehend the suspect along Governor’s Drive, Parkview Estate, Ikoyi.

The team was split into two; one to go and search his house while the other was to search his company. I led the team that went to his house on Banana Island in the evening of the same day. We went into the house; we recovered items that we believe support the petition. Some of the items we recovered were 92 pieces of golden colour holograms, a textbook and handbooks on how to print currencies. We also recovered a manual numbering machine” Uche told the judge.”