The 23-year-old is one of the most sought-after players in the Football League after netting 15 goals this season, with QPR, Leeds United, Huddersfield, Blackburn Rovers and Middlesbrough all among those reportedly keen on his signature.
It has also been reported that Bradford have a £2million asking price for the Bermuda international, but Baldwin admits that any successful bids will need to meet the club's valuation.
"We've had one formal bid," he is quoted in the Daily Star Sunday.
"It is improved on what Peterborough offered in the summer but it's not where the club want to be.
"There will possibly be other offers. But when they occur, the club will act accordingly on the information we receive.
"We can't do more than that. But from a football perspective, Nahki continues to go out there and hopefully carry on scoring goals.
"Unless we see any other offers coming through which we feel are worth considering, Nahki remains very much a Bradford City player and part of our plans."