"We are dealing decisive blows against these criminal structures that not only fight over local drug trafficking, but are also the generators of different violent acts and other types of crimes that disrupt peace and coexistence," he said.
The man was arrested on suspicion of trafficking, manufacturing and carrying narcotic substances, the Colombian national police said.
Police commander, Gelver Yecid Pena Araque, said so far this year more than 450 people have been arrested for drug trafficking.
Footage released by police showed the wig being cut off the man's head to reveal 19 capsules of the substance, which weighed 220g.
The force said the bust had affected criminal finances and "prevented the sale of more than 400 doses of cocaine, valued at more than €10,000 (£8,296) in international markets".
