The Mirror says City have agreed a whopping £30million fee with Swansea for Bony.
The 26-year-old Ivory Coast star is expected to sign a four-year deal worth £100,000-a-week.
Swansea have cashed in on their star man after Bony made it clear to them that he wanted to listen to offers from Champions League clubs this month.
City have moved to inject fresh impetus into their bid to retain the title after wiping out Chelsea's lead at the top of the Premier League. That feat has been achieved despite injuries to Edin Dzeko and top scorer Sergio Aguero.
Bony is currently Swansea's top scorer with nine goals in his last 14 appearances.
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