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Emmanuel Ado, a family spokesperson, confirmed Keshi suffered a cardiac arrest in the early hours of Wednesday.
"With thanksgiving to God, the Ogbuenyi Fredrick Keshi family of Illah in Oshimili North Local Government Area of Delta State, announces the death of Mr. Stephen Okechukwu Chinedu Keshi," Ado said in a statement to Premium Times.
"Our son, brother, father, father-in-law, brother-in-law, has gone to be with his wife of 35 years, Mrs. Kate Keshi, who passed on the 9th of December 2015.
"Since her death, Keshi has been in mourning. He came back to Nigeria to be with her. He had planned to fly back today Wednesday, before he suffered a cardiac arrest. He has found rest."
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Keshi made 64 international appearances as a player, and was a part of the 1994 Africa Cup of Nations-winning team.
He spent a large part of his career in Belgium, featuring for clubs including Anderlecht and Lokeren.
Keshi became coach of his nation in 2011, guiding them to success in the Cup of Nations just two years later.
He left the post in 2015.