Officials sources said the searches were conducted at the premises of R P Gupta, U K Ridhi, A K Saxena, Surjeet Lal and Nukesh Jain, who were officials in the CWG Organising Committee.
The CBI had earlier arrested Deorukhkar Shekhar, a close aide of former OC Chairman Suresh Kalmadi in connection with the same case.
Nearly Rs 600 crore of contracts relating to the overlays project are under the scanner of the probe agency.
Overlays works included supply of tents, marquees, prefabricated units, portable toilets, containers, security fences, furniture, public display LED boards, floor finishes, material handling equipment, gensets, cabling, UPS, air-conditioners, lighting, civil construction, athletic exercise equipment and grandstands.
The agency had conducted a number of searches in certain premises across the country in early Jan in connection with the scam in the Games, including those of an officer under Union Sports Ministry.
The overlays contracts are also under the scanner of the Income Tax Department and the Enforcement Directorate.
The CBI had earlier registered three FIRs for alleged corruption in the projects and events in the run up to the sporting extravaganza.
Two of these cases were in connection with alleged irregularities in the Queen's Baton Relay.