Nwaneri is the younger brother of senior Arsenal midfielder Ethan Nwaneri, who is currently on-loan with Olympique Marseille.
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Emerson, who can play in midfield and attack, has tasted U21 football this season.
Along with Nwaneri, forward Kyran Thompson, defender Angelinou Pedro and midfielder Misha Nduka will also be part of scholarship intake.
Arsenal swooped for Nduka in September from Charlton Athletic.