The 31-year-old striker arrived at Ewood Park as a free agent on 1st July, completing a switch which had been discussed during a loan spell towards the end of the 2012/13 campaign.
Those talks were held with former coach Michael Appleton and it was suggested that Campbell did not fit into Bowyer's plans after he inherited the managerial reins.
He denies that is the case and is adamant the former Blackpool and Queens Park Rangers forward will have an important part to play at Rovers as they seek to secure promotion back to the Premier League.
He said in the Lancashire Telegraph: "That story was a load of rubbish, I don't know where it came from.
"He arrived on 1st July and by 14th July we were supposedly looking to let him go. He's a player who scored 10 goals in 17 games on loan at Ipswich last season.
"He is someone who can score goals in this division. Why would we be looking to let him go?"
Bowyer has also sought to distance himself from rumours claiming that Rovers are keen on Crewe Alexandra forward Max Clayton.
"There's nothing in that. He's a talented player and I think some of the Premier League boys have been looking at him."