For some in the crowd of around 100 civilians and journalists on the scene, that news may have come as a disappointment.
Grewal said there's "no indication at all" that Najib would be arrested. He and other spectators were kept off the road by a police cordon.
The finance ministry said in a statement Wednesday that a 6 percent goods and services tax introduced by Najib in 2016 to boost government revenues will be abolished June 1.
Reuters reported that witnesses saw around a dozen armed police enter Najib's home after he returned from prayers at a mosque.
Singh, the head of the commercial crime department, did not provide any other details. Singh characterised them as "searches", not raids. I must thank the people of Malaysia. Najib has denied any connection with the scandal.More news: Uber won't force sexual assault survivors into arbitration
He was first arrested in 1998, while Deputy Prime Minister, after calling for political reform.
Najib started the 1MDB fund in 2009, and USA investigators say at least US$4.5 billion was stolen and laundered by Najib's associates, some of which landed in his bank account.
Mahathir, 92, has said there is sufficient evidence to investigate the scandal at 1MDB.
Mahathir said the government will seek to retrieve billions of dollars laundered from 1MDB to repay government debts that have piled up over the years.
In the largest single action ever brought under the US government's Kleptocracy Asset Recovery Initiative, the US State Department is seeking to recover more than US$1bn in assets that were looted from the 1MDB fund and laundered through the US.More news: Tata Steel posts Rs 14688-cr net on one-off gain
"The main issue is of corruption, particularly 1MDB as well as the money that was embezzled by the previous government", Mahathir told reporters on Wednesday. He said the police took items "to show they did something".
Mahathir has barred Najib from leaving the nation which is for the pending investigations.
While still in power, Najib was cleared by an investigation which was widely seen as a cover-up. The election result was a demand for change and it's the new government's responsibility to ensure that mandate is honored, he said.
"I and Mahathir have buried the hatchet already, it was a long time ago, " he said, his tie and jacket off and sleeves rolled up, after returning from the palace, news agencies reported.
How Mahathir and Anwar will get along, and whether and when the prime minister will stand aside for the man who built the opposition alliance is one of the biggest questions facing Malaysia.More news: Wife of PGA golfer Lucas Glover arrested on domestic violence charges
Anwar will have to become a member of parliament - most likely through a by-election - in order to be sworn in as prime minister.
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