The news comes a month after the country was described by British Prime Minister David Cameron as "fantastically corrupt".
The minister's special adviser Segun Adeyemi told Reuters: "All these are monies recovered from individuals and entities who had either hidden, stolen, diverted or were in possession of monies belonging to the nation.
"These recovered funds include monies withheld by past government officials, monies kept in private accounts, monies diverted to private pockets and monies in possession of government officials not disclosed after leaving government."
Nigeria also expects the return of some $330m stolen from its public treasury and moved to overseas banks, most of it in Switzerland, according to Mr Mohammed.
He did not name any officials, but the government has previously promised to publish their names.
Last month, British Prime Minister David Cameron was recorded describing Nigeria and Afghanistan as "fantastically corrupt" in a conversation with the Queen.
Nigeria's president Muhammadu Buhari told Sky News in response that his country is corrupt and that he did not expect an apology from the PM.
Speaking in London at an anti-corruption event hosted by the Commonwealth Secretariat, Mr Buhari said: "What would I do with an apology?"
Hundreds of people have reportedly been arrested on suspicion of corruption offences in Nigeria during the past year.
Current trials include that of retired Colonel Sambo Dasuki, national security advisor to former president Goodluck Jonathan.
He is accused of diverting $2.1bn in funds intended to fight Boko Haram insurgents.
Dasuki's financial director Shuaibu Salisu has told the court that $47m in cash was put into 11 suitcases and taken from the country's central bank to his home.
But Dasuki says Mr Jonathan had told him the money should be used to bribe party officials to help him win his party's presidential nomination.
Jonathan lost the election in 2015 to current leader Mr Buhari, who says he inherited national finances severely depleted by massive corruption.
Since then, the sharp drop in oil prices - crude sales make up around 70% of national income - has left the country struggling economically.
The government has previously revealed plans to generate $17bn this year from non-oil sources to help fund the $30.6bn budget signed into law by Mr Buhari last month.
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