Despite finishing third at this year's Africa Cup of Nations, a statement on the Nigeria Football Federation website revealed the organisation's technical committee had been asked to look for a new man after a meeting in Abuja ended Amodu's fourth stint.
On the lookout: Nigeria, with Chelsea midfielder John Obi Mikel among their ranks, are searching for a new boss to lead them at this summer's World Cup
And the former Leicester City, Crystal Palace and Wycombe manager Taylor has been placed alongside last season's FA Cup winning Chelsea coach Guus Hiddink and Bayern Munich boss Louis van Gaal among the list of preferred candidates for the job.
Mikel Obi set instant recall with Carlo Ancelotti running scared of Arsenal Pick me, Sven! Peter Taylor wants to replace Backe as Notts County bossIpswich pull the plug on ex-England caretaker Peter Taylor deal There were also some less high-profile names listed in the running with former Ghanacoach Ratomir Dujkovic and Qatar chief Bruno Metsu mooted.
While Taylor's chances appear distinctly remote, with Russia coach Hiddink the clear favourite for the Nigeria post, the 57-year-old is indeed keen to make a swift return to management and boosts credible international coaching experience from his tenure in charge of England Under 21 side.
International recall: Peter Taylor has been linked with the vacant Nigeria post
Having been out of football since his dismissal at League One Wycombe last October, Taylor has recently voiced his interest in the vacant Notts County hot seat.
He said: 'I have admitted my interest in the job before and that is still the case.
'I would be a liar to say I'm not interested in being manager at Notts County.'
But the troubled League Two outfit, with director of football SvenGoran Eriksson, look likely to stick with caretaker boss Dave Kevanafter he sensationally guided the club into the fifth round of the FACup, only a month after replacing Swede Hans Backe.
Nigeria, though, will be in Group B for the summer's World Cup in South Africa alongside Argentina, Greece and South Korea.
The federation hope to have a new man in charge by the end of themonth and could speak to free agent Taylor in the coming weeks.
Mikel Obi set instant recall with Carlo Ancelotti running scared of Arsenal Pick me, Sven! Peter Taylor wants to replace Backe as Notts County bossIpswich pull the plug on ex-England caretaker Peter Taylor deal