The 23-year was an integral part of Montpellier's title-winning squad last year and he has attracted interest from a number of clubs across Europe following another impressive season.
Arsenal are believed to be one of Cabella's potential suitors, but Nicollin hopes his hefty price tag will deter the Gunners' interest.
"He is non-transferable," he told Radio Monte Carlo.
"We try to anticipate and plan things, even in football, but it's complicated.
"The desire of the club is to keep Remy - he was told and knows this. If a club arrives and offers €100million, it will be discussed though."