How to fix "no identity found - Command CodeSign failed with a nonzero exit code" error in Xcode

Today I got the "Command CodeSign failed with a nonzero exit code" error with the following information.

Signing Identity: "My identity"
/usr/bin/codesign --force --sign xxxxxxxx --timestamp=none /path/to/derived/data...
xxxxxxxx: no identity found
Command CodeSign failed with a nonzero exit code

There might be several reasons that cause this error. I will share one that just happened to me.

Cause of the problem

I got this problem when I mess up with keychains in the Keychain Access app. I created a new certificate and tried to delete an old one. And I think Xcode was attempting to use the deleted one.

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Solution

My solution is what we always do when we got an Xcode problem, Clean Build Folder.

1. Click menu Product > Clean Build Folder while holding down option key or ⌘ - CMD + ⇧ - SHIFT + ⌥ - option + K.
2. Close the Xcode. This is a very important step for me. I need to close it to work.
3. Reopen the app, and you might see the dialog asking to access the keychain. Grant the access, and the problem should go away.