Craig signed a pre-contract agreement with Hibs last month and St Johnstone rejected a bid to speed up the transfer.
Saints play at Easter Road on Monday but Fenlon does not expect Craig's involvement to be problematic for the player.
Fenlon said: "We have had an agreement and that's put by to the end of the season and come Monday night it's just about going out and playing the match.
"Footballers are used to that, they just get on with it, and I'm sure it will be the same on Monday.
"As a player you step on to the pitch and a lot of that stuff goes out of your head.
"You don't think a lot about other stuff when you go on the park, you think about winning the game and what the approach is from your team tactically.
"You don't have time to think about anything else."
Hibs have secured two narrow wins over St Johnstone this season but they are only a point ahead of the Perth side in the increasingly tight race for a top-six spot.
Fenlon said: "St Johnstone gave us a real tough time up there and we nicked the win in the end. In fairness to them they played on the night and probably could have won it. The game here was tight as well.
"You say the same things every week, there is very little between all the teams.
"The games we are winning and the games we are losing seem to be by the odd goal."
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