The Police prosecutor alleged that the accused, with intent to defraud, presented himself as being capable of producing Nigeria and Benin Republic currencies.
Njoku, who resides at No. 26, Agowa St., Bariga area of Lagos, is standing trial on a two-count charge bordering on fraud and unlawful possession of counterfeit currencies.
The Police Prosecutor, Nosa Uhumwangho, told the court that Njoku committed the offences in January 2017 at Oshodi area of the state.
He alleged that the accused, with intent to defraud, presented himself as being capable of producing Nigeria and Benin Republic currencies.
The prosecutor said that the accused claimed he was capable of producing N1,000 notes and 200 pieces of N500 notes.
Uhumwangho said that the accused also claimed he could produce 100 pieces of N200 notes, 100 CFA notes and 10 CFA coins from pieces of papers or other materials in a chemical substance.
He alleged that the accused was in possession of counterfeit currencies suspected to be unlawfully obtained.
According to the prosecutor, the offences contravened Sections 316 (a) and 329 of the Criminal Law of Lagos State, 2015.
The accused, however, pleaded not guilty to the charge preferred against him by the police.
The Magistrate, Mr Wahab Balogun, granted him bail in the sum of N1million, with two sureties in like sum.
Balogun said that the sureties must show an affidavit of means, produce evidence of means, adding that one of the sureties must be a blood relation and should have their addresses verified.
He adjourned the case until August 17, for mention.