Agagu was reported to have slumped at the venue of a meeting on Friday afternoon in Lagos State.
The meeting was taking place "somewhere" on the mainland, a source close to him said.
He was said to have been rushed to an hospital in Yaba.
But the hospital could not handle his case, hence he was quickly moved to the Military Hospital in Ikoyi.
It was at the Military Hospital that he was confirmed dead.
His corpse, according to sources close to him, is still at the Military Hospital.
Agagu was said to have returned to Nigeria from the United States of America on Thursday.
He was said to have landed in Lagos and headed to his Ikoyi, Lagos State home.
He had lunch with his wife, Funke, in his Ikoyi home on Friday before heading to the meeting on Lagos Mainland.
Agagu was born February 16, 1948.
He was Governor of Ondo State from May 29, 2003 to February 2009.
His mandate was voided by the court and handed over to the incumbent, Dr. Olusegun Mimiko.
Agagu was a staunch member of the Peoples Democratic Party.
Agagu's Chief Press Secretary as governor, Yemi Olowolabi, confirmed the development.
Olowolabi said Agagu's wife is distraught as they were together before he left for the meeting "hale and hearty."
*So sad*
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