The Nigerian midfielder’s transfer to Emirates Stadium had been delayed as he waited for visa and work permit clearance.
Nwakali will board a flight to London on Thursday night, where he will undergo a medical and sign a four-year deal.
Nwakali will complete his move to North London and will initially link up with the Arsenal academy. If he continues his development at a similar pace, he could be fast tracked to first team duties by next season.
He said: “I am going to Arsenal to work and try to be the best I can. With God anything is possible, to work hard to justify my claim for first team football.”
Nwakali is set to be joined by teenage countryman Samuel Chukwueze in a £4 million deal.
Nwakali and Chukwueze impressed in last year’s Fifa Under-17 World Cup in Chile.
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