Zelalem, who was born in Germany, had looked close to a move to Borussia Dortmund but instead becomes the latest Arsenal youngster to go to Venlo.
Arsenal midfielder Gedion Zelalem is being lined up for a loan move to Dutch side VVV Venlo, sources close to the player have confirmed to ESPN FC.
Manchester City midfielder Manu Garcia has joined Dutch club NAC Breda on loan until the end of the season.
Deportivo Alaves have agreed to end the loan deal of Manchester City midfielder Manu Garcia Alonso by mutual consent.
Dutch club Fortuna Sittard have hired former Nigeria captain and coach Sunday Oliseh as their new manager.
Nwakali, 18, signed a five-year deal with the Gunners in the summer, joining from the Diamond Football Academy in Nigeria.