The Toffees headed into the final hours of the transfer window needing to bring in a new right-back and several attackers as Beto also headed to Fiorentina.
Financial issues were a problem for Moyes, who landed a shock deal for Ainsley Maitland-Niles from Lyon, plus another season-long loan for Jack Grealish.
The £65M brought in from Ndiaye's move to City - plus Beto's exit and Tim Iroegbunam's move to Hull City - was supposed to be part used to secure a deal for Balogun.
However, controversy reigned over the USA international's medical, and Moyes claimed there was nothing more it than that - as he also rejected rumours of a late offer from Chelsea for midfield star James Garner.
"I'm disappointed we didn’t do more business and disappointed things didn’t go our way in the end. Sometimes in football you have to live with disappointment and we move on.
"The Balogun situation wasn’t anybody’s fault. It happens in football a lot. The player had a problem in his medical and that was simply it. There’s no other story behind it.
"We lost Iliman Ndiaye, who we didn’t want to lose, but it’s quite difficult when the likes of Man City come looking for your players.
"What was said was on Garner completely untrue, so I don’t know where that’s come from. There’s no truth in that what so ever."