Nigeria's department of state services said five suspected extremists were arrested after they "perfected plans" to attack the embassies and "other western interests" in capital city Abuja.
The security service said another suspected member of the militant group, who was arrested last month, confessed details of the plot, Sky News reportd.
Earlier this month, the US State Department issued an updated travel warning for Nigeria, warning that Boko Haram has targeted government buildings in the Federal Capital Territory and elsewhere.
Since 2009, Boko Haram has killed more than 20,000 people and forced another two million to flee their homes in an insurgency in north east Nigeria.
Last year, Nigerian president Muhammadu Buhari said Boko Haram had been "crushed", but the group's members continue to fight around Lake Chad.