Cobblers boss Stuart Gray said: "He is a young player with plenty of pace and he can play up front or out wide.
"Like all of their young players, he has had an excellent grounding at Reading. I think he can do a good job for us and he will give us a different option.
"We have a number of injuries in the squad at the moment and I think Nicholas will be good for us and we can be good for him.
"He is a player we have been tracking for a while. He first came to light when we saw him in the FA Youth Cup last season and he is highly rated at Reading so we are very grateful to Steve Coppell for loaning him to us for a month."