The 25-year-old Togo international, who signed a five-year-deal in a reported 25 million pound transfer on Saturday, instead said medals and glory sealed the deal.
"People who think that I have joined City for the money are wrong," Adebayor told the club website.
"If I had made a move for that reason then I would have been playing for Barcelona or (AC) Milan last season. They gave me bigger offers than Arsenal did for me to stay."
The 2008 African Footballer of the Year did not win a trophy with Arsenal after a 2006 move from AS Monaco to Arsene Wenger's side.
"The chairman and everyone at City want this club to be one of the best in the world. We will fight to be that," Adebayor, who was greeted at the club by 300 fans on Saturday, added.
"I want to win silverware and trophies. That is my ambition. The team has got quality and a manager who knows what he wants and is a nice guy."
Adebayor, who scored 62 goals in 142 appearances in all competitions for Arsenal, joins new signings Carlos Tevez of Argentina and Paraguay's Roque Santa Cruz in City's new-look attack.
City manager Mark Hughes also has Brazilian Robinho, Craig Bellamy and Benjani Mwaruwari in a formidable forward line.
"Everyone at the club has shown me great respect and how they want to build something. I have a lot of ambition and want to be part of the City family."
Adebayor will join up with his new team mates in a pre-season tour of South Africa.
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