Michael Appleton insists there have been no approaches to Pompey for Kanu.
But he remains optimistic an agreement can soon be reached for the veteran striker to leave Fratton Park.
The 35-year-old has another year to run on his contract, though is surplus to requirements.
He has been linked with a summer switch to Qatar side Al-Arabi, speculation his legal advisor has declined to comment on.
Such a move would be welcomed by Pompey, who have been in discussions over ending his contract early.
Kanu returned to training on Monday following a back injury.
Yet he has not played for the Blues since October – before Appleton became manager.
The former Nigerian international currently represents one of Pompey’s better earners.
And Appleton is hopeful an exit can be mutually agreed soon for the benefit of both parties.
He said: ‘Fitness-wise, Kanu joined in training on Monday.
‘That was his first training session for a month or so following injury.
‘As regards to him leaving the club to go elsewhere, I have not heard anything about that so cannot comment.
‘Myself and Trevor (Birch) have not had contact with any clubs.
‘From our point of view, if there is an opportunity to come to some kind of agreement where he doesn’t have to be at the football club next year then I think that is the sensible decision for both parties.
‘We are still in discussions with him and his representatives about that.
‘Hopefully we’ll come to some kind of agreement between now and the end of the season.’