Ibrahim Magu, Acting Chairman of the Economic and Financial Crimes Commission (EFCC), has been arrested by the Department of State Services (DSS).
Sahara Reporters say he was arrested over allegations that he owns four properties.
He is also alleged to have transferred funds abroad through a third party.
In 2016, DSS accused the EFCC boss of living in a N40m mansion paid for by one Umar Mohammed, a retired Air Commodore.
EFCC spokesman, Dele Oyewale, did not take calls.
The DSS report said on December 2010, the Police Service Commission (PSC) found Magu guilty of action prejudicial to state security – withholding of EFCC files, sabotage, unauthorised removal of EFCC files and acts unbecoming of a police officer, and awarded him severe reprimand as punishment.
It noted that Magu is "currently occupying a residence rented for N40m at N20m per annum. This accommodation was not paid [for] from the commission's finances, but by one Umar Mohammed, air commodore retired, a questionable businessman who has subsequently been arrested by the secret service".
DSS stated that Magu enlisted "the Federal Capital Development Authority to award a contract to Africa Energy, a company owned by the same Mohammed, to furnish the residence at the cost of N43m"
In one of such trips, the report added that Magu flew to Maiduguri alongside Mohammed with a bank MD who was being investigated by the EFCC over complicity in funds allegedly stolen by the immediate past petroleum minister, Diezani Alison-Madueke.
"Furthermore, the EFCC boss has so far maintained a high-profile lifestyle. This is exemplified by his preference for first-class air travels. On 24 June 2016, he flew Emirate airlines first-class to Saudi Arabia to perform lesser hajj at the cost of N2.9m. This is in spite of Mr President's directive to all public servants to fly economy class.
"Magu has fostered a beneficial relationship with Mohammed who by his confession approaches clients for possible exploitation, favours and associated returns," the DSS report said.
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