Nigeria’s foreign spy chief Ayo Oke has been suspended after anti-corruption officers found more than $43m (£34m) in a flat in the main city, Lagos, the president’s office has said.
Muhammadu Buhari has ordered an investigation into how the spy agency headed by Mr Oke came into possession of the money, his office added.
Mr Oke has not yet commented.
However, unnamed intelligence officials told local media that the money was kept in the flat for covert operations.
Anti-corruption officials have uncovered bundles of cash in Nigeria this year.
Mr Buhari took office in 2015 with a pledge to root out corruption in government.