The Nigeria international's move to Spain has broken down, despite the president of the Liga club previously intimating that a deal would soon be struck
The 21-year-old Nigeria international had been in discussions with Los Verdiblancos this week over a potential move to Benito Villamarin.
However, the club have now confirmed that they have pulled out of talks with the player due to his exorbitant wage demands.
"Real Betis announce that they are breaking off negotiations with the player Nosa Igiebor," a statement on the club's official read.
"The party had reached agreement with both the player and his team of origin, Hapoel Tel Aviv, but in the last few hours the player has requested a wage increase that was not already agreed.
"The club provides this view as a lack of respect, seriousness and professionalism which will not accept."
Betis president Miguel Guillen had earlier been optimistic that a deal with the Nigerian would soon be completed, however, and was expecting the player to arrive in Seville imminently.
"It is possible that if we agree terms, then he will make an appearance. We are still in negotiations," he told reporters.
"We look forward to new faces arriving, seeing how quickly they have integrated to the team and their degree of involvement."