The 23-year-old made his senior debut for Wolves in 2013 after graduating from the club’s academy, and has made over 93 appearances in all competitions.
He has not made appearance for Nuno Espirito Santo in the Premier League this season, and the club are happy to let him go.
Iofa, who is predominantly a right-back but can operate at centre-back as well, is out of contract at Molineux in the summer.
He has been restricted to appearances for the club’s Under-23 side’s in the EFL Trophy, and Wolves will let him go. So, Celtic have a good chance to sign him this month.
The report claims that he will likely join Celtic in the summer if a pre-contract deal can be sorted.
The Hoops have bolstered their attacking unit this month, but they are also keen to add depth and quality in defence, especially the right-back area.
Celtic boss Brendan Rodgers is desperate to sign a long-term replacement for Mikael Lustig, and Iorfa can be a good option for them.