Redknapp instead wanted to sign French striker Nicolas Anelka, who then played at Bolton.
Nugent, who is currently on-loan from Pompey to Burnley, is looking to haunt his old manager when they travel White Hart Lane.
Nugent struggled at Portsmouth under Redknapp.
“Of course I did my homework before I signed him,” said Redknapp. “To be honest with you, if I’m truthful, I was trying to sign Nicolas Anelka from Bolton at the time.
“And the owner of the club didn’t want Anelka and for some reason he fancied, he heard of Nugent.
“And I had good reports from some people I worked with who fancied Nugent and I went with it. I’m not saying anything now because we all make mistakes.
“But I’m quite happy to say to everybody I wasn’t convinced when I took him that I was making the right move.”
He added: “He needs to dedicate himself to his football, he hasn’t proved me wrong no matter what he does, he won’t prove me wrong, he won’t change my opinion.”