Musa, who was initially linked with a move to the Premier League champions in January, is set to fly to England for a medical on Wednesday.
According to the Russian media, the fee will be £16m, making the 23-year-old Leicester’s club record signing, only days after the France midfielder Nampalys Mendy arrived at the King Power Stadium from Nice.
“Everything has been finalised and Musa will be in England for his medical on Wednesday,” Musa’s agent, Tony Harris.
Musa, who can play as a winger or a striker, joined CSKA in 2012 and has scored 54 goals in 168 games for the Russian club. The 2015-16 season was his most prolific, with 13 goals in 29 Russian Premier League matches.
He made his international debut for Nigeria against Madagascar in 2010 and has scored 11 times in 58 appearances for his country, including two goals in the 3-2 defeat by Argentina at the 2014 World Cup in Brazil.
