The 34-year-old's deal expires at the end of the campaign, and he has yet to make a single start in the Premier League this season.
However, Seluk says there is no chance of Toure leaving when the transfer window opens as he wants to help Pep Guardiola's side.
Per Paul Gilmour at Sky Sports: he said: "Everything is good at Man City. He will 100 per cent stay at City in January. He wants to be a three-time champion of the Premier League, but he is also enjoying using his experience to help the young players at the club.
"During the Leicester Carabao Cup game, he had more appearances for City than all of the other starting players."
Toure has also recently announced his decision to come out of international retirement:
Ivory Coast failed to qualify for the 2018 FIFA World Cup, but qualification for the 2019 Africa Cup of Nations begins in March and Toure will be hoping to be involved.
The midfielder has been a huge influence on City since joining the club from Barcelona in 2010, and he has helped the club to win two Premier League titles, the FA Cup and two League Cups.
Squawka Football showed what an impressive goalscoring contribution he has made to the club.
However, he is now one of the oldest members of Guardiola's side, and his time at the club is clearly coming to an end.
Toure's experience could still prove invaluable in the coming months as City chase glory in the Premier League, the UEFA Champions League and both domestic cup competitions.
Guardiola's side have a big lead in the Premier League and are heavy favourites to win their first title since 2014.
However, the club have never tasted victory in the Champions League, a trophy Toure lifted in 2009 with Barcelona.
City have a youthful squad with players such as John Stones, Benjamin Mendy, Leroy Sane, Bernardo Silva, Raheem Sterling and Gabriel Jesus all aged 23 or under.
Although he may not feature much on the pitch in the remaining months of the campaign, Toure could still play an important role behind the scenes, particularly as we reach the business end of the season.