Ibrahim Magu has been suspended as the Acting Chairman of the Economic and Financial Crimes Commission (EFCC).
This comes a day after he was arrested and detained by officers of the Department of State Security (DSS) in Abuja.
He was grilled by a panel probing allegations of gross misconduct against him but the panel was unable to conclude with him.
News of his suspension filtered as the panel resumed sitting on Tuesday for more questioning.
The Attorney general of the federation (AGF), Abubakar Malami, had written to the President accusing Magu of engaging in corrupt activities.
Malami was also quick to name replacements for Magu.