Bangura is on loan from Celtic to the Swedish side, and Lennon has previously stated he feels the player is in an awkward situation.
But the Hoops boss has accepted Elfsborg have the right to field the 24-year-old, and he is preparing to deal with Bangura's attacking threat.
"I am not going to make a big song and dance about it but the reality of it is, there is a big possibility that Mo could play," Lennon said.
"If he plays, he plays and we are preparing for it as if he is playing. You would probably need to ask him how he is feeling more than me.
"We made our feelings pretty clear over the last week or so but we have to respect Elfsborg's decision.
"I am trying to do what's best for Celtic and the Elfsborg manager is trying to do what's best for Elfsborg.
"There is a good relationship between the two clubs. I just think it puts Mo in a very difficult position. I wouldn't like to be in that position myself, put it that way."