The 22-year-old Martins has been linked with a move away since it emerged he has a £13m buy-out clause in his deal.
But, just as he did when being asked about Michael Owen´s dodgy contract clause, Sam claims no club has shown any interest.
Manchester United and Arsenal have both been linked with the player in recent days.
Allardyce: "There has been speculation about Obafemi Martins every week since I have been here, and he is still at Newcastle.
"I have had no contact from any club, either in this country or any other wanting to activate his clause.
"Oba is still a Newcastle United player and the only way he will not be a Newcastle United player is if somebody activates that clause, and nobody has."