The Hoops accepted a bid of around £12million from Southampton for the Kenyan midfielder but the personal terms between the Premier League club and Wanyama's agent were not agreed upon.
Ivan Modia, Wanyama's representative, suggested that Celtic were trying to offload the 22-year old in order to make a nice profit but Lennon says this is simply not the case.
"There's been a lot of talk," said Lennon. "We accepted a bid from Southampton, we've done nothing wrong.
"The ball is firmly in his representative's court. We're unhappy, as we dealt with it as professionally as possible.
"All we did was accept a bid from Southampton, a very good, progressive club. But there seems to be other parties wanting to block the deal.
"We felt the money was right for us, a good business deal for the club. Whether it resurfaces again, I don't know.
"The fact we accepted a bid tells you we felt it matched our valuation of the player. I don't know where we are with it at minute."