Super Eagles head coach Eric Chelle will now take charge of the country’s U-23 side following an agreement with the Nigeria Football Federation (NFF).
The 48-year-old agreed to combine the two roles following a meeting with top officials of the NFF and the National Sports Commission (NSC) in Abuja on Tuesday.
Former internationals Samson Siasia and Daniel Amokachi were previously in the running for the U-23 Eagles coaching job.
Nigeria have missed out on qualification for the men’s football event at the last two Olympic Games, Tokyo 2020 and Paris 2024.
The U-23 Eagles won a bronze medal on their last appearance at the Olympics in Rio de Janeiro, Brazil, in 2016.
They won the gold medal in men’s football at the Atlanta 1996 Olympic Games, becoming the first African nation to achieve the feat.