Elephantnoses --
Gnathonemus petersii -- are among the most difficult of all "common" aquarium fishes. There are several issues you'll need to work around.
1. They are highly territorial. Keeping them as singletons is usually advised, though in the wild they can and do form groups. It is perfectly possible that six specimens will get along fine, diffusing any aggression evenly between themselves. However, since each fish will easily top 20 cm in captivity, and potentially reach 35 cm, a school of these fish will obviously need a large aquarium.
2. They are very sensitive to water quality. Long term, you need to have nitrates as low as possible (certainly less than 50 mg/l) and nitrites and ammonium have to be zero. Regular water changes are essential. Water chemistry isn't terribly important, though soft and slightly acidic to neutral is closest to their natural environment. Filtration through peat does seem to help though, and is probably essential in the long term.
3. They are intolerant of medications containing copper. Basically, it kills them. This rules out using most commerical whitespot, finrot, etc., medications. Unless the medication says "safe for invertebrates" or "safe for mormyrids and stingrays" on the bottle, you can't use it. Mormyrids, incidentally, is the name of the family to which the elephantnose belongs.
4. They feed primarily on insect larvae, such as bloodworms. Other wormy foods like tubifex are also enjoyed. Live food is usually preferred. Frozen (wet frozen not freeze dried) is an option
after the fish are settled in and feeding freely on the live foods. To begin with though, live bloodworms (or something similar) is simply the only reliable approach. Dried foods are ignored in almost all cases, and certainly should not be relied on.
5. They must be kept in a tank with a soft substrate, ideally silica sand or peat fibre. They cannot be kept in tanks with a gravel substrate. Eventually, the gravel scratches the skin, allowing infections to set in. Once infected, they usually die, because they cannot be easily treated with standard medications.
The fate of most elephantnoses is to starve to death. I'd say 9 out of every 10 dies this way. Most aquarists have no idea how to care for them, and it's a shame they're imported so freely. That said, they're rewarding pets and well worth keeping if you make the effort. We had some at university and connected up an oscilloscope, and "watching" their electric sense was very cool.
Cheers, Neale