The 25-year-old Nwaba appeared in 20 games for the Lakers as a rookie in 2016-17, averaging 6.0 points, 3.2 rebounds and 0.7 assists in 19.9 minutes per game.
He took on a larger role with the Bulls last season, appearing in 70 games and making 21 starts. The former Cal Poly standout averaged 7.9 points, 4.7 rebounds and 1.5 assists in 23.5 minutes per game.
Nwaba isn't much of an outside shooter (just 52 three-point attempts last season), but he excels at driving to the basket offensively and contesting shots defensively.
The Lakers have already undergone a roster transformation this offseason with the signings of LeBron James, Rajon Rondo, Lance Stephenson and JaVale McGee. They also have several young holdovers (Lonzo Ball, Kyle Kuzma, Kentavious Caldwell-Pope, Josh Hart, Brandon Ingram), which gives them plenty of depth.
Nwaba wouldn't be a necessity for L.A., but he would fit in well with what the Lakers are trying to do in filling the roster with tough-minded players.
The Lakers already have a crowded backcourt, but Nwaba is a high-motor player who could provide a spark on both ends of the floor.