Return to Nigeria
In June 2010, the Nigeria Football Federation asked Eguavoen to replace Swedish Lars Lagerbäck until he decide his future plans. He was brought in as caretaker manager but said that he has no intention of submitting an application to take the role on a permanent basis. Eguavoen was also appointed as the head coach of the Nigeria national under-23 football team in August 2010. He expected his team would have a qualification for the 2012 London Olympic Games, but they were knocked out in the group stage. On 5 December 2011, he resigned from his job following the failure to secure the Olympics ticket.
On 27 October 2012, he was named manager of Sharks F.C. to allow John Obuh to concentrate on the Nigeria Under-20 team. He resigned however after seven games when the team started at the bottom of the table. He signed in April 2013 to coach Nigeria National League side COD United.
In November 2013, he was hired by the Edo State government to coach Bendel Insurance with the intent of getting them back to the Premier League.[5] He resigned in July 2014 to take over Gombe United F.C.[6]
In April 2017, he joined Sunshine Stars.[7] but was let go in June after a home loss to league leaders Plateau United.[8]
In October 2020, the Nigerian Football Federation, appointed Eguavoen as the Technical Director of the Federation.[9]
On 12 December 2021, Eguavoen was appointed manager of Nigeria on an interim basis for the 2021 Africa Cup of Nations, following the departure of Gernot Rohr.[10] After Nigeria exited from the round of sixteen with an agonising defeat to Tunisia, he returned to his position as the Technical Director of the side.