Nwakaeme has been looking for a new club since leaving Turkish Super Lig champions, Trabzonspor in June.
Newsonline report that the striker has been linked with the likes of Hull City, Galatasaray, Fenerbahce and Al-Shabab.
According to reports in Turkey, Nwakaeme will put pen to paper with Al-Feiha after undergoing medical examinations.
The 31-year-old played a key role in Trabzonspor’s winning the league title last season contributing 13 goals and 10 assists.
In his four-year stint with the club, he played 145 matches with 47 goals and 35 assists to his name.