The powerful Kenyan midfielder has been a target for a number of clubs in England including Manchester United, and elsewhere in Europe recently, but Lennon wants to keep him in Glasgow and hopes to re-visit contract talks with his agent Rob Moore soon.
"I think we can always re-open negotiations with Rob on Victor's situation," said Lennon.
"He has another two years on his contract, so we have time on our side.
"Obviously, the longer we leave it, the more vulnerable we become or the more he becomes an attractive proposition for a bigger club.
"Victor's never actually intimated to me that he wants to leave, but I'm not sure who is driving the bus in this situation, him or Rob.
"I'd like to speak to Rob again on the situation and see if we can bed him down for a little longer."