The former Wimbledon player was arrested by authorities because he was involved in a scam to flog land that wasn’t for sale.
Fashanu was behind bars for two days until he was released on July 19 on bail.
According to the Mirror, police turned up at his home in the capital Abuja and was arrested on suspicion of “criminal conspiracy.”
It is believed that the 54-year-old pocketed £23,000 in the dodgy scam after acting for a friend who was looking to buy land.
Fashanu has reportedly agreed to pay back the money but has denied any wrongdoing.
A friend of the former footballer told the Mirror: “This is a business deal between friends that has gone south and the police were asked to basically mediate.
“It will all be sorted very quickly. It was a just a business deal.”