Emenike and the likes of Robin van Persie and Moussa Sow are reportedly on their way out of Fenerbahçe this summer.
Emenike who has just a year left on his current Fenerbahçe contract has been deemed surplus to requirement by the club.
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Olympiakos are reportedly interested in the 30-year-old but are said to be put off by Fenerbahçe's asking price.
Amidst the reports, Emenike has resumed training with Fenerbahçe; “Off to Istanbul. less talk, more action. I'm strong enough to take it,” he wrote alongside a photo of him in training.
New Fenerbahçe coach Aykut Kocaman is keen to also let go of Gregory van der Wiel and Volkan Şen.
Matthieu Valbuena, Mehmet Ekici and Nabil Dirar have been signed this summer.