The Hoops accepted an offer from Southampton, reported to be in the region of £12million, although the player's agent claims the midfielder is not in talks with Saints.
Cardiff have also been linked with the highly-rated Kenyan, who appears increasingly unlikely to be a Celtic player next season.
Lennon said: "The fact that we have accepted a bid tells you that we feel that matches our valuation of the player.
"We don't know where we are with it at the minute, there seems to be a bit of a stand-off. We felt the money was right for us, a good business deal for the club. Whether it resurfaces again, I don't know."
Lennon was unhappy with comments made by Wanyama's representative, Ivan Modia, who told Sky Sports: "The player will not be forced into a corner to accept the Southampton deal, just because it is good for Celtic."
The Hoops boss said: "I'm unhappy because we have dealt with things as professionally as possible.
"What we have done is accepted a bid from Southampton, who are a very good club, a very progressive club. Personally, I think it would be a very good move for Victor in terms of his career going forward but there seems to be other bodies who want to block the deal.
"There has been a lot of talk in the last couple of days. We accepted a bid from Southampton and we've done nothing wrong in our eyes as always. The ball is firmly in the court of Victor's representatives.
"You don't know what's around the corner. I would imagine there would be other interested parties but we've had no confirmation from any other clubs yet."
- Sports & Recreation