The attacks on Sunday and Monday have left about 300 people dead.
Boko Haram gunmen, driving armoured vehicles, stormed Gamborou Ngala town in the Ngamboru Ngala local government area and fired sporadically into the crowd, the Nigerian Tribune reported.
Senator Ahmed Zanna confirmed the killings and added that the militants spent 12 hours wreaking havoc in the town.
The town is on the Nigeria-Cameroon border, about 200 km from Maiduguri, the capital of the state.
The senator said many others were also injured in the attack and almost all the houses and shops in the town were burnt.
The terrorist group last month abducted over 230 schoolgirls.
It abducted eight more girls in north-eastern Nigeria Monday.