Ladipo's son, Tunji, said the coach died at about 10.a.m. Thursday after taking his bath, Xinhua reports.
Ladipo was admitted for months at the University College Hospital (UCH) in Ibadan due to a protracted ailment. He was said to have been discharged from the hospital some days ago.
Ladipo was a part of the Shooting Stars squad that won the FA Cup in 1971. As a coach he was also in charge of the Falcons when they first lost the AWC crown in 2008 in the semi-finals to hosts and eventual winners, Equatorial Guinea.